Required Information [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 $ 920,000 $870,000 $1,110,000 92,000 76,000 $ 670,000 The common stock was sold at a price of $31 per share. 2. What was the amount of retained earnings at the beginning of the year? Answer is complete but not entirely correct. Retained earnings $ 870.00