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On July 1, TruData Company issues 9,600 shares of its common stock with a $5 par value and a $45 fair value in exchange for all of Webstat Companys outstanding voting shares. Webstats precombination book and fair values are shown below along with book values for TruDatas accounts.

	TruData				Webstat				Webstat
	Book Values				Book Values				Fair Values
Revenues (1/1 to 7/1)	$	(246,400	)		$	(140,000	)
Expenses (1/1 to 7/1)		150,000				84,000
Retained earnings, 1/1		(122,000	)			(140,000	)
Cash and receivables		176,000				52,000			$	52,000
Inventory		176,000				146,000				176,000
Patented technology (net)		246,000				178,000				216,000
Land		390,000				214,000				240,000
Buildings and equipment (net)		90,000				72,000				72,000
Liabilities		(534,000	)			(366,000	)			(344,000	)
Common stock		(314,000	)			(64,000	)
Additional paid-in capital		(11,600	)			(36,000	)

rev: 05_10_2017_QC_CS-88998, 05_18_2017_QC_CS-89463

On its acquisition-date consolidated balance sheet, what amount should TruData report as retained earnings as of July 1?