On January $1,2022,$ Sandhill Corporation had retained earnings of $$539,000.$ During the year, Sandhill had the following selected

transactions.

Declared and paid cash dividends $$119,000.$

Corrected overstatement of $2021$ net income because of inventory error $$39,500.$

Earned net income $$344,500.$

Declared and paid stock dividends $$59,500.$

Determine the retained earnings balance at the end of the year.

Retained earnings $