fox D E F F G H 1 J K 29 Eau Claire Paper Mill, Inc., had, at the beginning of the fiscal year, April 1, 2013, retained earnings of $323,325. During the year ended March 31, 2014, the company produced net income after taxes of $713,445 and paid out 45 percent of its net income as dividends Construct a statement of retained earnings and compute the year-end balance of retained earnings