Yosef Corporation acquired 90% of the outstanding voting stock of Randeep Inc. on January 1 , Year 6. During Year 6, intercompany sales of inventory of $45,000 (original cost of $27,000 ) were made. Only 20% of this inventory was still held within the consolidated entity at the end of Year 6 and was sold in Year 7 . Intercompany sales of inventory of $60,000 (original cost of $33,000 ) occurred in Year 7 . Of this merchandise, 30% had not been resold to outside parties by the end of the year. At the end of Year 7, selected figures from the two companies' financial statements were as follows: Yosef uses the cost method to account for its investment in Randeep. Both companies pay income tax at the rate of 40%. Requirement: Assume Randeep's retained earnings at acquisition date January 1, Year 6 was $140,000. Calculate the Parent's (Yosef's) consolidated retained earnings balance at January 1 , year 7 AND December 31 , year 7