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On January 1 , 2 0 2 2 , Blossom Corporation had retained earnings of $ 5 5 2 , 0 0 0 . During

On January 1,2022, Blossom Corporation had retained earnings of $552,000. During the year, Blossom had the following selected transactions.1. Declared and paid cash dividends $132,000.
Corrected overstatement of 2021 net income because of inventory error $46,000.
Earned net income $351,000
Declared and paid stock dividends $66,000.Determine the retained earnings balance at the end of the year.

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