Question
Return to qu Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on...
Return to qu Retained earnings, December 31, 2019 Decrease in total liabilities during 2019 Gain on the sale of buildings during 2019 Dividends declared and paid in 2019 Proceeds from sale of common stock in 2019 Net income for the year ended December 31, 2019 $336,480 73,280 25,760 7.200 79,040 36,160 Required: From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a negative financial statement effect.) * Answer is not complete. Statement of Stockholders' Equity (Partial) For Year Ended December 31, 2019 Retained earnings, December 31, 2018 Add: Net income Less: Dividends Retained earnings, December 31, 2019
Answers
Statement of stockholders' equity
For year ended December 31,2019
Retained earnings, December 31,2018 (336480+7200-36160) 307520 Add: Net income 36160 Less: Dividends -7200 Retained earnings, December 31,2019 336480
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