Wildhorse Company reported retained earnings at December 31, 2019, of $318,500. Wildhorse had 198,500 shares of common stock outstanding at the beginning of 2020. The following transactions occurred during 2020. 1. A cash dividend of $0.70 per share was declared and paid. 2. A 10% stock dividend was declared and distributed when the market price per share was $14 per share. 3. Net income was $283,000. Compute the ending balance in retained earnings at the end of 2020. Retained earnings