Darlington, Inc. is a calendar year company. On December 31, 2015, it had the following balances in the equity section of the balance sheet:

Common stock, $1 par value $100,000

Paid-in-capital in Excess of Par 2,000,000

Treasury Stock (cost method, 1000 shares) 40,000

Retained Earnings 250,000

For the year 2016, Darlington had $120,000 net income. On December 10, 2016, the company declared a dividend of 40 cents a share to be paid on January 15, 2017 to shareholders of record as of December 23, 2016. As of December 31, 2016, what is the balance of the Retained Earnings account