On December 31, 2020, an analysis of the accounts for a companyreveals the following:
$100,000 loss on disposal of discontinued operations, beforetax
$6,000 gain on sale of investments, before tax
$10,000 depreciation expense understatement in 2018 due toerror, before tax
$20,000 cumulative understatement of net income of prior yearsfrom changing inventory valuation method in 2020, before tax
$168,000 income from operations, before tax
$4,000 dividends declared
The applicable income tax rate is 40% for all tax-related items.Retained earnings on December 31, 2019 were reported as$600,000.
What is ending retained earnings on December 31,2020?
