(Answered) Question - from the following dataretained earnings

Accounting

Question - From the following data:

Retained earnings, December 31, 2013 $ 349,500

Cost of buildings purchased during 2014 42,600

Net income for the year ended December 31, 2014 56,700

Increase in cash balance from January 1, 2014, to December 31, 2014 23,600

Increase in long-term debt in 2014 45,700

Required: Calculate the Retained Earnings balance as of December 31, 2014.

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