On January 1, 2020, Sheridan Corporation had retained earnings of $547,000. During the year, Sheridan had the following selected transactions. 1. Declared cash dividends $127,000. 2. Corrected overstatement of 2019 net income because of inventory error $43,500. 3. Earned net income $348,500. 4. Declared stock dividends $63,500. Determine the retained earnings balance at the end of the year.

Roberto and reagan are both 25 percent owner/managers for bright light inc. roberto runs the retail store in sacramento, ca, and reagan runs the retail store in san francisco, ca. bright light inc. generated a $125,000 profit companywide made up of a $75,000 profit from the sacramento store, a ($25,000) loss from the san francisco store, and a combined $75,000 profit from the remaining stores. if bright light inc. is an s corporation, how much income will be allocated to roberto?