Question - The accountant for Brooks Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:
Retained earnings balance at the beginning of the year $156,000
Cash dividends declared for the year $ 46,000
Proceeds from the sale of equipment $ 81,000
Gain on the sale of equipment $ 7,000
Cash dividends payable at the beginning of the year $ 18,000
Cash dividends payable at the end of the year $ 40,000
Net income for the year $ 92,000
What is the ending balance for retained earnings?