As of $12/31/2020$ Claudine Services has outstanding $10,000$ shares of $$100$ par value, $8\%$ preferred stock, and $20,000$ shares of $$1$ par value common stock. The company has $$1,750,000$ of retained earnings. At year$-$ end, the company declares and paid the regular $$8\mathrm{.}00$ per share cash dividend on preferred stock and a $$5\mathrm{.}00$ per share cash dividend on common stock.

What is the total amount of dividends paid by Claudine Services?

Assuming the company made $$250,000$ for the $2021$ fiscal year, what is the retained earnings balance after the dividend is paid?