Whispering Company started operations on January 1, 2015, and has used the FIFO method of inventory valuation since its inception. In 2021, it decides to switch to the average-cost method. You are provided with the following information. Net Income Under FIFO Under Average-Cost Retained Earnings (Ending Balance) Under FIFO 2015 $94,800 $85,100 $91,800 2016 64,300 59,400 144,900 2017 95,300 84,900 237,600 2018 111,800 122,100 354,900 2019 282,300 272,700 644,400 2020 311.200 316,300 780,200 (a) What is the beginning retained earnings balance at January 1, 2017, if Whispering prepares comparative financial statements starting in 2017? Retained earnings, January 1