Below is selected information from a company for its year ended December $31,2023$ and $2024($$ thousands$).$ Retained earnings as of December $31,2023450,000$ Net income for the year $2024350,000$ Dividends paid in $202450,000$ Revenue for the year $2024760,000$ Total Assets as of December $31,2023820,000$ Total Assets as of December $31,2024850,000$ Required $1.$ Prepare a schedule to show the calculation of the balance for the retained earnings account as of December $31,2$