On January 1. 2022. Pharoah Corporation had retained earninen of 5535.000 . Ouring the year, Fharoah had the following welected transaction 1. Declared and baid cash dividends $115000 2. Cerrected overbatement of 2021 net income because of imentory error 537,500 3. Earned net income $342,500 4. Declared and paid stock dividends $57,500. Determine the retained earnings balance at the ecut of the vear Retained earnines