Calculate the retained earnings balance at the end of the period.

Preference shares have been treated as debt in the financials.

Net income	100,550.0
Retained earnings, end of prior year	397,150.0
Common stock	1,000,000.0
Preference shares	200,000.0
Preference shares dividend	7.15%
Common stock dividend announced and paid	40,220.0

Select one:

457,480.0

471,780.0

443,180.0

385,980.0