Good Corp. issued 20,000 shares of $5 par common stock at $10 per share. On December 31, year 1, Good's retained earnings were $300,000. In March year 2, Good reacquired 5,000 shares of its common stock at $20 per share. In June year 2, Good sold 1,000 of these shares to its corporate officers for $25 per share. Good uses the cost method to record treasury stock. Net income for the year ended December 31, year 2, was $50,000. At December 31, year 2, what amount should Good report as retained earnings?