H&M Pty (Ltd) was incorporated on the 01 April 2021. The Company operates in the hospitality industry. The information below pertains to the business activities of the company for the year ended 31 March 2023. 1. EXTRACT OF BALANCES AS AT 31 March 2023: R Share Capital : Ordinary Shares 3,001,205 Retained earnings (1 April 2022) (429,900) Fixed deposit 300,505 Investments ?? Vehicles (at cost) 980,000 Accumulated depreciation: Vehicles (1 April 2022) 217,700 Buildings 3,000,000 Accumulated depreciation: Buildings (1 April 2022) 196,800 Land 1,002,700 Equipment (at cost) 331,400 Accumulated depreciation: Equipment (01 April 2022) 124,300 Trade receivables control 446,200 Allowance for credit losses 7,000 Prepaid expenses 17,500 Allowance for settlement discount granted 9,100 Long-term loan: Time Bank 1,117,400 SARS (current tax paid) 12,500 Trade payables control 669,600 Profit for the year (before year-end adjustments) 1,276,300 2. Additional information 2.1. The fixed deposit in Time bank matures on 31 December 2025. 2.2. During the year the land was revalued upwards by R150 000 by a sworn appraiser because of the rezoning of the property. This transaction is yet to be recorded. 2.3. The long-term loan from Time Bank was granted on 1 December 2021. The loan is secured by a first mortgage over land and buildings and is repayable in 6 equal annual instalments together with interest, with the first instalment on 1 December 2023. 2.4. Investments consist of: Long term - Investment in Diana (Pty) valued R110 000 Short term - 3 000 shares in Elizabeth (Pty) Ltd at R100 000. These shares were trading at R45,00 on 31 March 2023. 2.5. A vehicle with a cost price of R170 000 was sold for R40 000 cash on 30 November 2022. The accumulated depreciation on the vehicle amounted to R78 000 on 30 November 2022. A new Equipment with a cost of R40 500 was purchased on the 31 March 2023. The accountant of the CC neglected to record the above transactions. 2.6. A telephone statement of R8 300 from Telkom relating to March 2023 was received on 2 April 2023. 2.7. Current tax for the year amounts to R103 500 and must still be provided. 2.8. Depreciation for the year which must still be provided for was correctly calculated as follows: Buildings R134 000 Equipment R53 600 Vehicles R61 000

Which one of the following alternatives represents the correct retained earnings amount that must be disclosed in the statement of financial position of H&M Pty (Ltd) as at 31 March 2023?