A company has retained earnings of €855 000 and liabilities were €700 000 as of 30 June 2010, its fiscal year end. In fiscal 2011, profit was €175 000, dividends were €110 000 and liabilities increased by €45 000. Profit was €65 000 in fiscal 2012, dividends were €110 000 and liabilities decreased by €65 000; and in fiscal 2013 profit was €50 000, dividends were €40 000 and liabilities decreased by €75 000. Contributed capital remained the same. What is the liabilities balance on the statement of financial position dated 30 June 2011?

LO1.