Answer:
$626,600
Explanation:
The movement in the retained earnings account is as a result of the net income/loss for the year and the dividend declared in the year/ period.
Given
Opening retained earnings = $464,000
Net income = $184,000
Dividend declared = $21,400
closing retained earnings balance = $464,000 + $184,000 - $21,400
=$626,600
The amount of Retained Earnings reported on the balance sheet as of December 31, 2019 will be $626,600 .
