From the following data:
| Retained earnings, December 31, 2013 |
$ |
349,500 |
| Cost of buildings purchased during 2014 |
|
42,600 |
| Net income for the year ended December 31, 2014 |
|
56,700 |
| Dividends declared and paid in 2014 |
|
32,500 |
| Increase in cash balance from January 1, 2014, to December 31, 2014 |
|
23,600 |
| Increase in long-term debt in 2014 |
|
45,700 |
Required:
Calculate the Retained Earnings balance as of December 31, 2014.