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Calculate the retained earnings balance of december

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Problem - From the data given below, calculate the Retained Earnings balance of December 31, 2010.

Retained earnings, December 31, 2009 230,000

Increase in total liabilities during 2010 66,000

Gain on the sale of buildings during 2010 28,000

Dividends declared and paid during 2010 18,000

Proceeds from the sale of common stock during 2010 64,000

Increase in total liabilities during 2010 82,000

Prepare the retained earning portion of a statement of change in owners' equity for the year ended December 31, 2010.

Reference no: EM132008627

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