On January 1, 2020, Carla Vista Corporation had retained earnings of $538,000. During the year, Carla Vista had the following selected transactions. 1. Declared cash dividends $118,000. 2. Corrected overstatement of 2019 net income because of inventory error $39,000. 3. Earned net income $344,000. 4. Declared stock dividends $59.000. Determine the retained earnings balance at the end of the year. Retained earnings $