Question 24 (3 points) The Torre Company has the following stockholders' equity account balances in stockholders equity on December 31. Common Stock - $5 par, 60,000 shares issued $390,000 Paid-In Capital in Excess of ParCommon Stock 650,000 Preferred Stock - $100 par, 5,000 shares issued 560,000 Paid-In Capital in Excess of ParPreferred 110,000 Retained Earnings 290,000 Treasury Stock (cost-$10 per share) 70,000 If net income for the year was $95,000 and a preferred stock dividend of $40,000 was paid, what was the beginning value of retained earnings? Your