B 59 Packard Company engaged in the following transactions during Year 1, its first year of operations (Assume all transactions are cash transactions) 1) Acquired $980 cash from the issue of common stock 2) Borrowed $450 from a bank 3) Earned $710 of revenues 4) Paid expenses of $280 5) Paid a $65 dividend During Year 2. Packard engaged in the following transactions: (Assume all transactions are cash transactions) 1) Issued an additional $355 of common stock 2) Repaid $250 of its debt to the bank. 3) Earned revenues of $780. 4) Incurred expenses of $390. 5) Paid dividends of $130. What is the after-closing amount of retained earnings that will be reported on Packard's balance sheet at the end of Year 2? (Assume that closing entries have been madel.