Exercise 11-17 On January 1, 2019, Kingbird, Inc. had retained earnings of $504,500. During the year, Kingbird had the following selected transactions. 1. Declared cash dividends $129,000. 2. Earned net income $349,500. 3. Declared stock dividends $64,500. Determine the retained earnings balance at the end of the year. (List items that increase retained earnings first.) Kingbird, Inc. Retained Earnings Statement