Packard Company engaged in the following transactions during Year 1, its first year of operations: (Assume all transactions are cash transactions.)

1. 1) Acquired $1,250 cash from the issue of common stock.
2. 2) Borrowed $720 from a bank.
3. 3) Earned $900 of revenues.
4. 4) Paid expenses of $310.
5. 5) Paid a $110 dividend.

During Year 2, Packard engaged in the following transactions: (Assume all transactions are cash transactions.)

1. 1) Issued an additional $625 of common stock.
2. 2) Repaid $430 of its debt to the bank.
3. 3) Earned revenues of $1,050.
4. 4) Incurred expenses of $480.
5. 5) Paid dividends of $160.

What is the after-closing amount of retained earnings that will be reported on Packards balance sheet at the end of Year 2? (Assume that closing entries have been posted).