E15-16B (Computation of Retained Earnings) The following information has been taken from the accounting records Vista Free Corporation. Total net income since incorporation $466,000 Total cash dividends paid 260,000 Proceeds from sale of treasury stock 40

E15-16B (Computation of Retained Earnings) The following information has been taken from the accounting records Vista Free Corporation.

Total net income since incorporation                  $466,000

Total cash dividends paid                                     260,000

Proceeds from sale of treasury stock                   40,000

Total value of stock dividends distributed                2,000

Total purchases of treasury stock                         35,000

Unamortized premium on bonds payable                32,000

Instructions

Determine the current balance of retained earnings.