Morning Dove Company is preparing a statement of stockholders' equity for 2023. Retained earnings 1/1/2023 Net income for the year ended 12/31/2023 $ 651,000 453,500 Dividends declared for 2023 Dividends paid 261,500 171,000 Proceeds from sale of additional shares of common stock 331,000 Amount paid to repurchase shares of common stock 101,500 What is the balance in Morning Dove's retained earnings account on December 31, 2023? Multiple Choice $843,000 $944,500 $1,275,500 $1,083,500