1. The Torre Company has the following stockholders' equity account balances in stockholders equity on December 31.

Common Stock $5 par, 500,000 shares authorized	$330,000
Paid-In Capital in Excess of ParCommon Stock	630,000
Preferred Stock $100 par, 100,000 shares authorized	510,000
Paid-In Capital in Excess of ParPreferred	200,000
Retained Earnings	250,000
Treasury Stock (cost $10 per share)	160,000

How many shares of common stock are outstanding?

2. The Torre Company has the following stockholders' equity account balances in stockholders equity on December 31.

Common Stock $5 par, 60,000 shares issued	$340,000
Paid-In Capital in Excess of ParCommon Stock	620,000
Preferred Stock $100 par, 5,000 shares issued	560,000
Paid-In Capital in Excess of ParPreferred	190,000
Retained Earnings	210,000
Treasury Stock (cost $10 per share)	150,000

If net income for the year was $80,000 and a preferred stock dividend of $30,000 was paid, what was the beginning value of retained earnings?