Sheridan Corporation has the following shareholders equity on July 31, 2023: Shareholders' equity Share capital $10 preferred shares, cumulative 10,000 shares authorized, 5700 shares issued $2060000 Common shares, 600,000 shares authorized, 10800 shares issued 298000 Total share capital 2358000 Retained earnings 513000 Total shareholders equity $2871000 Assume that on June 15, 2024, Sheridan paid the preferred dividend for the current year (there were no dividends in arrears) and paid a dividend of $3 to each common shareholder. The company earned $47000 in profit during 2024. The July 31, 2024, financial statements will show an ending balance in retained earnings of

Select answer from the options below

$560000.

$470600.

$433600.

$513000.