please determine the retained earnings balance at the end of the year

Show Attempt History Current Attempt in Progress X Your answer is incorrect. On January 1, 2020, Sunland Corporation had retained earnings of $537.000. During the year, Sunland had the following selected transactions, 1. 2. Declared cash dividends $117,000 Corrected overstatement of 2019 net income because of inventory error $38,500. Earned net Income $343,500 Declared stock dividends $58,500. 3 4. Determine the retained earnings balance at the end of the year Retained earnings 661000