The following information has been taken from the accounting records of Oriole Corporation.

Total net income since incorporation		$481,000
Total cash dividends paid		265,000
Total proceeds from sale of treasury stock		40,000
Total value of (small) stock dividends distributed		3,000
Total purchases of treasury stock		38,000
Unamortized premium on bonds payable		31,000

Determine the current balance of retained earnings.

Current balance of retained earnings

$enter the current balance of retained earnings in dollars