Ivanhoe Company reported retained earnings at December 31, 2021, of $303,500. Ivanhoe had 199,500 shares of common stock outstanding at the beginning of 2022. The following transactions occurred during 2022. 1. A cash dividend of $0.40 per share was declared and paid. 2. A 10% stock dividend was declared and distributed when the market price per share was $16 per share. 3. Net income was $288,000. Compute the ending balance in retained earnings at the end of 2022. Retained earnings