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For Year 1 , Nnabue Company's year - end balance sheet lists $ 3 , 3 1 7 , 4 4 8 in ending Retained

For Year 1, Nnabue Company's year-end balance sheet lists $3,317,448 in ending
Retained Earnings. During Year 1, Nnabue's net income exceeded its dividend
declarations by $172,996. Nnabue's dividend declarations in Year 1 were
$41,809. Nnabue also sold $32,000 of stock in Year 1. Dividend payments were
$14,000. How much was Nnabue's beginning retained earnings?
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