Refer to the data below. Retained earnings, December 31, 2016 $ 348,400 Cost of buildings purchased during 2017 47,800 Net income for the year ended December 31, 2017 56,800 Dividends declared and paid in 2017 32,300 Increase in cash balance from January 1, 2017, to December 31, 2017 22,300 Increase in long-term debt in 2017 45,800 Required: From the above data, calculate the Retained Earnings balance as of December 31, 2017