At the beginning of 2016, Arab Company had retained earnings of $412,000. During the year Arab reported a net loss of $90,000, sold treasury shares at a "gain" of $36,000, declared a cash dividend of $96,000, and declared and issued a share dividend of 2,800 shares ($11 par value) when the fair value of the shares was $43 per share. The balance of retained earnings available for dividends at the end of 2016 was:(Show Calculations)