From the data given below, calculate the Retained Earnings balance as of December 31, 2017. 
Prepare the retained earnings portion of a statement of changes in stockholders' equity for the year ended December 31, 2017:
Definitions:
Inventory Cost
The total cost associated with holding and managing inventory, including storage, insurance, and obsolescence.
Building
A structure with a roof and walls, such as a house or factory, used for living, working, storage, or other purposes.
Scarce Resources
Resources that are limited in availability and cannot satisfy all wants and needs due to their limited supply.
Economics
The social science that studies how individuals, governments, firms, and nations make choices on allocating scarce resources to satisfy their unlimited wants.
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