Packard Company engaged in the following transactions during Year $1,$ its first year of operations: $($Assume all transactions are cash transactions.$)1)$ Acquired $$1,450$ cash from the issue of common stock. $2)$ Borrowed $$920$ from a bank. $3)$ Earned $$1,100$ of revenues. $4)$ Paid expenses of $$350.5)$ Paid a $$150$ dividend. During Year $2,$ Packard engaged in the following transactions: $($Assume all transactions are cash transactions.$)1)$ Issued an additional $$825$ of common stock. $2)$ Repaid $$570$ of its debt to the bank. $3)$ Earned revenues of $$1,250.4)$ Incurred expenses of $$560.5)$ Paid dividends of $$200.$ 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 posted$).$