On January 1, 2022, Skysone Inc had retained earnings of $544,000. During the year, Skysong had the following selected transactions. 1. Declaredcash dividends $124,000. 2 Esrned net income $355,000 3. Declared stock dividends $56,000 Determine the retained earnings balance at the end of the vear, (List items that increase retained earnings first) Determine the retained earnings balance at the end of the year. (List items that increase retained earnings first.)