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Given the following information, what is Creed Companys retained earnings balance at the end of...

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Accounting

Given the following information, what is Creed Companys retained earnings balance at the end of 2021? Hint: First, calculate net income for 2021 and then calculate the retained earnings balance.

2021 2020
Retained Earnings ???? 345,000
Dividends 50,000
Sales Revenue 214,000
Unearned Revenue 24,000
Interest Revenue 12,000
Advertising Expense 11,000
Salaries Expense 47,000
Depreciation Expense 35,000
Prepaid Insurance Expense 12,000
Accrued Interest 8,000
Tax Expense 7,000
Interest Expense 10,000

Total retained earnings is:

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