Required information

E$11-4($Algo$)$ Reporting Stockholders' Equity L$011-1,11-2,11-3$

$[$The following information applies to the questions displayed below.$]$

The financial statements for Highland Corporation included the following selected information:

Common stock

Retained earnings

Net income

Shares issued

Shares outstanding

Dividends declared and paid

$$910,000$

$$890,000$

$$1,070,000$

$91,000$

$70,000$

$$660,000$

The common stock was sold at a price of $$25$ per share.

E$11-4$ Part $2$

What was the amount of retained earnings at the beginning of the year?