For the $2022$ year, Olaf Industries reported shareholder equity of $$500,000\mathrm{.}00.$ In $2023,$ Olaf did not issue any new shares and reported net income of $$150,000\mathrm{.}00.$ Olaf has decided to pay out $20\mathrm{.}00\%$ of their net income as dividends and put the remainder in retained earnings. What will be the new value for shareholder equity in $2023?$