Review exercise-calculate retained earings from the following:
Retained earnings, Dec 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 issurance of bonds during 2011 = $176,800
Net loss for the year ended Dec 31, 2011 = $46,000
Calculate the Retained Earnings balance as of Dec 31, 2010. ?????