On January 1, 2020, Wade Corp. had retained earnings of $558,000. During 2020, Wade reported the following information:

1.	Income from continuing operations: $1,210,000.
2.	Wade increased its percentage of uncollectible accounts receivable from 5% in 2019 to 10% in 2020. The new percentage was used in calculating the current years bad debt expense.
3.	Wade discontinued operations of one of its subsidiaries at a loss of $190,000 before taxes. The disposal met the criteria for discontinued operations.
4.	An audit discovered that amortization of intangible assets was understated by $40,000 in 2019.
5.	Wades income tax rate is 20% for both years.
6.	Wade declared stock dividends of $48,000.

Instructions: Prepare a statement of retained earnings.