Hi! This is my first time doing anything accounting related and I'm majorly LOST.
Please help me. The exercise reads as follows:

From the following data, calculate the retained earnings balance as of December 31, 2009

Retained earnings Dec. 31,2009 - $311,800
Cost of equipment purchased during 2009 - $32,400
Net loss for the year ended Dec. 31,2009 - $4,700
Dividends declared and paid in 2009 - $18,500
Decrease in cash balance from Jan. 1,2009 to Dec. 31,2009 - $13,600
Decrease long term debt in 2009 - $14,800

My book is a little confusing when in comes to equations but I'm thinking I should subtract the $32,400 and $13,600 from the original balance, plus add the $14,800 to the final result... but I don't really know what to do with the rest of the info.
I just need some guidance... :confused:

Was your first balance suppose to read Retained Earnings, Dec 31, 2008 $311,800?

Otherwise you answer would just be that balance without any work required...