97. The income statement for Hudson Company was as follows: Hudson CompanyIncome Statement (selected items)For the year Ended December 31, 2010 Income from operations $345,000 ...

97. The income statement for Hudson Company was as follows:

The balance sheet dated December 31, 2009, showed a Retained Earnings balance of $823,000 and a debit balance in Valuation Allowance for Trading Investment of $68,000. The company paid $43,000 in dividends during 2010.
Required:
(1) Determine the December 31, 2010, Retained Earnings balance.
(2) Determine the December 31, 2010, Valuation Allowance for Trading Investments balance.

a.

b.