At the beginning of 2015, Sunland Company had retained earnings of $402000. During the year Sunland reported net income of $109000, sold treasury stock at a gain of $36400, declared a cash dividend of $61000, and declared and issued a small stock dividend of 2890 shares ($10 par value) when the fair value of the stock was $20 per share. The amount of retained earnings available for dividends at the end of 2018 was

$457500.

$392200.

$421100.

$428600.