Final answer:
The balance in Retained Earnings at January 31 will be $1200 credit.
Step-by-step explanation:
The balance in Retained Earnings at January 31 can be calculated by starting with the net income of $1700 and subtracting the dividends paid to the owners of $500. So, the balance in Retained Earnings at January 31 will be $1700 - $500 = $1200 credit.