The Torre Company has the following stockholders' equity account balances in stockholders equity on December 31. Common Stock - $5 par, 60,000 shares issued $340,000 Paid-In Capital in Excess of Par-Common Stock 680,000 Preferred Stock - $100 par, 5,000 shares issued 500,000 Paid-In Capital in Excess of Par-Preferred 170,000 Retained Earnings 300,000 Treasury Stock (cost - $10 per share) 90,000 If net income for the year was $120,000 and a preferred stock dividend of $25,000 was paid, what was the beginning value of retained earnings