As of December 31, 2011, Oxford-welsh Inc.had assets of ₤3,260,000, liabilities of ₤990,000, and share capital of ₤1,410,000.Retained earnings as of that date are

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Retained earnings can be calculated using the accounting equation: Assets = Liabilities + Shareholders' Equity. Shareholders' Equity is the sum of share capital and retained earnings. Thus, Retained Earnings = Assets - Liabilities - Share Capital = ₤3,260,000 - ₤990,000 - ₤1,410,000 = ₤860,000.

As of December 31, 2011, Oxford-Welsh Inc