presented below is an alphabetical list of of account balances take from the looks of an entity at the end of the current period, dec 31: accounts payable 125,000 accrued expenses 47,000 cash surrender value on life insurance 29,000 dividends, ordinary shares 100,000 dividends, preference shares 150,000 mortgage payable (including 200,000 due in six months) 1,200,000 note payable (not due within 12 months)1,500,000 premium on notes payable 25,000 profit and loss summary - credit balance 500,000 retained earning January 1 550,000 share capital- ordinary, 100 par 1,000,000 share capital - preference, 200 par 450,000 share premium - ordinary 250,000 unamortized issue cost on note payable 25,000 unearned rent income 33,000 what is the retained earnings balance on December 31?
presented below is an alphabetical list of of account balances take from the looks of an entity at the end of the current period, dec 31:
accounts payable 125,000
accrued expenses 47,000
cash surrender value on life insurance 29,000
dividends, ordinary shares 100,000
dividends,
mortgage payable (including 200,000 due in six months) 1,200,000
note payable (not due within 12 months)1,500,000
premium on notes payable 25,000
retained earning January 1 550,000
share capital- ordinary, 100 par 1,000,000
share capital - preference, 200 par 450,000
share premium - ordinary 250,000
unamortized issue cost on note payable 25,000
unearned rent income 33,000
what is the retained earnings balance on December 31?
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