Exercise 2-11 (Algo) Calculate retained earnings LO 2, 3 Retained earnings, December 31, 2018 $ 313,600

Cost of equipment purchased during 2019 50,000

Net loss for the year ended December 31, 2019 4,850

Dividends declared and paid in 2019 17,100

Decrease in cash balance from January 1, 2019 to December 31, 2019 14,200

Decrease in long-term debt in 2019 13,900

Required:

From the above data, calculate the retained earnings balance as of December 31, 2019. (Enter decreases with a minus sign to indicate a negative financial statement effect.)

lukeperry    2   14.02.2022 03:30    9