17. Jackson, Inc. had $1,600,000 in retained earings on 1/1/20. During fiscal year 2020, net income of $400,000 was earned, and cash dividends of $200,000 were declared and paid as well as stock dividends of $100,000. They also had an increase of cash totaling $70,000 and issued common stock totaling $40,000. Calculate the ending retained earnings balance as of 12/31/20. Show your work