From the following data retained earnings

Reference no: EM13598815

From the following data: Retained earnings, December 31, 2011 $ 490,400 Net decrease in total assets during 2011 74,800 Net increase in accounts receivable in 2011 17,200 Dividends declared and paid in 2011 67,200 Proceeds from issuance of bonds during 2011 176,800 Net loss for the year ended December 31, 2011 46,000

Required: Calculate the Retained Earnings balance as of December 31, 2010.

Reference no: EM13598815

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