At the beginning of 2021, Sheffield Corp. had retained earnings of $403000. During the year Sheffield reported net income of $110000, sold treasury stock at a gain of $35000, declared a cash dividend of $60900, and declared and issued a small stock dividend of 3100 shares ($10 par value) when the fair value of the stock was $18 per share. The amount of retained earnings available for dividends at the end of 2021 was

$431300.

$396300.

$421100.

$456100.