Hewitt Corporations Retained Earnings account balance was $108,000 on January 1. During January, the company recorded revenue

Question:

Hewitt Corporation’s Retained Earnings account balance was $108,000 on January 1. During January, the company recorded revenue of $600,000, expenses of $312,000, and dividends of $18,000. The company also paid a $42,000 account payable during the period.
Determine the company’s Retained Earnings account balance on January 31.