Refer to the data below.

Retained earnings, December 31, 2019	$	344,400
Cost of buildings purchased during 2020		40,900
Net income for the year ended December 31, 2020		56,300
Dividends declared and paid in 2020		32,400
Increase in cash balance from January 1, 2020, to December 31, 2020		23,200
Increase in long-term debt in 2020		44,900

Required:
From the above data, calculate the Retained Earnings balance as of December 31, 2020: