High Liner Foods Inc. operates in the North American packaged foods industry and primarily processes and markets frozen seafood and distributes products to retail and food service customers. Exhibit 3.29 contains selected financial information for 2020.

Required 

a. Determine the company’s ending Retained Earnings balance.

b. Identify three things that we know about the company because it has an opening balance in Retained Earnings.
c. During the year ended December 31, 2020, High Liner Foods had depreciation expense of $6,630 thousand on its production equipment, $2,901 thousand on its building structures, and $1,104 thousand on its computer equipment. Prepare the adjusting entry that would have been required if the company recorded all of its depreciation in a single entry. 

d. The company had prepaid expenses of $4,176 thousand as at December 31, 2020. Identify two types of likely prepaid expenses and explain when they would be expensed.

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(in thousands of US dollars) Net income Retained earnings, opening balance Dividends declared 28,802 162,773 5,518