At the beginning of the current year, Wilson Corporation had 290,000 shares of $1 par common stock outstanding and had retained earnings of $5,700,000. During the year, the company earned $1,765,000 and paid a year-end cash dividend of $3 per share. What was Wilson Corporation's retained earnings at the end of the year?

$7,175,000 $7,465,000 $6,595,000 $5,700,000