Given the Following Information About a Corporation's Current Year Activities,compute

Given the following information about a corporation's current year activities,compute the retained earnings for the current year.
$$\begin{array} { |l | r| } \hline \text { Retained earnings, January 1 } & \$ 342,000 \\\hline \text { Cash dividends } & \$ 51,700 \\\hline \text { Stock dividends } & \$ 40,000 \\\hline \text { Net income } & \$ 141,000 \\\hline\end{array}$$

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Retained Earnings = $391,300
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