Jiffy Pop, Inc. has retained earnings at $12/31/2021($i$.$e$.,$ end of year $2021)$ of $$7,540.$ During the year $2021$ it reported $$240$ of net loss, and it paid dividends of $300$ and issued new shared of stock for $$1,000.$ The beginning balance of retained earnings on $1/1/2021$ was $\_\_\_\_?$