On January 1, 2020, Ivanhoe Corporation had retained earnings of $533,000. During the year, Ivanhoe had the following selected transactions. 1. 2. 3. 4. Declared cash dividends $113,000. Corrected overstatement of 2019 net income because of inventory error $36,500. Earned net income $341,500. Declared stock dividends $56,500. Determine the retained earnings balance at the end of the year. Retained earnings