The accountant for Robinson Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:
- Retained earnings balance at the beginning of the year $ 157,500
- Cash dividends declared for the year 47,500
- Proceeds from the sale of equipment 82,500
- Gain on the sale of equipment 7,300
- Cash dividends payable at the beginning of the year 19,500
- Cash dividends payable at the end of the year 41,800
- Net income for the year 93,500
- What is the ending balance for retained earnings? $251,000. $279,000. $203,500. $177,000. $256,700.