On January 1, 2022, Carla Vista Corporation had retained earnings of $549,000. During the year, Carla Vista had the following selected transactions. 1. Declared and paid cash dividends $129,000. 2. Corrected overstatement of 2021 net income because of inventory error $44,500. 3. Earned net income $349,500. 4. Declared and paid stock dividends $64,500. Determine the retained earnings balance at the end of the year. Retained earnings