Answer:
$49.137 million
Explanation:
The accounting equation gives the relationship between the elements of a balance sheet as
Assets = Liabilities + Equity
Equity is further divided into common stock and retained earnings which is the accumulated net income over the years net of dividends declared and settled.
Equity = Common stock + Retained earnings
Equity = $127.921 million - $74.974 million
= $52.947 million
Retained earnings = $52.947 million - $3.810 million
= $49.137 million
