Sunland Corporation began operations on January 1, 2014. During its first 3 years of operations, Sunland reported net income and declared dividends as follows.

		Net income			Dividends declared
2014		$47,800			$ 0
2015		130,500			56,500
2016		167,700			60,000

The following information relates to 2017.

Income before income tax		$248,300
Prior period adjustment: understatement of 2015 depreciation expense (before taxes)		$28,800
Cumulative decrease in income from change in inventory methods (before taxes)		$43,000
Dividends declared (of this amount, $28,800 will be paid on January 15, 2018)		$116,500
Effective tax rate		40	%

Prepare a 2017 retained earnings statement for Sunland Corporation

Assume Sunland Corporation restricted retained earnings in the amount of $76,240 on December 31, 2017. After this action, what would Sunland report as total retained earnings in its December 31, 2017, balance sheet?