On January 1, 2022, Eddy Corporation had retained earnings of $610,000. During the year, Eddy had the following selected transactions. 1. Declared cash dividends $120,000. 2. Earned net income $350,000. 3. Declared stock dividends $90,000. Determine the retained earnings balance at the end of the year. (List items that increase retained earnings first.) Eddy Corporation Retained Earnings Statement For the Year Ended December 31, 2022 $ Add Less $