Review exercise calculate retained earnings. From the following data, calculate the Retained Earnings balance as of December 31, 2013:
Retained earnings, December 31, 2014 ...................................................... $245,200
Net decrease in total assets during 2014 .................................................... 37,400
Net increase in accounts receivable in 2014 .............................................. 8,600
Dividends declared and paid in 2014 ....................................................... 33,600
Proceeds from issuance of bonds during 2014 .......................................... 88,400
Net loss for the year ended December 31, 2014 ....................................... 23,000