Newland Company reported retained earnings at December 31, 2019, of $310,000. Newland had 200,000 shares of common stock outstanding at the beginning of 2020. The following transactions occurred during 2020. 1. A cash dividend of $0.50 per share was declared and paid. 2. A5% stock dividend was declared and distributed when the market price per share was $15 per share. 3. Net income was $285,000. Compute the ending balance in retained earnings at the end of 2020. Retained earnings $ 365000