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

1. 1) Acquired $1,000 cash from the issue of common stock.
2. 2) Borrowed $470 from a bank.
3. 3) Earned $650 of revenues cash.
4. 4) Paid expenses of $260.
5. 5) Paid a $60 dividend.

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

1. 1) Issued an additional $375 of common stock.
2. 2) Repaid $255 of its debt to the bank.
3. 3) Earned revenues of $800 cash.
4. 4) Incurred expenses of $380.
5. 5) Paid dividends of $110.

The amount of retained earnings on Packards Year 2 balance sheet is: