A company reported retained earnings of $$294,000$ at December $31$ of the prior year. Calculate the retained earnings balance at

December $31$ of the current year using the following data.

Net income for the current year is $$50,000.$

Cash dividends declared and paid for the current year is $$66,000.$

This year the company discovered a math error from two years ago; to correct for this, $$37,000($net of tax$)$ must be added to the

current year's beginning retained earnings balance.