Chapter 5, Problem 5.16BE

Computation of Contributed Capital. Using the information from BE5-17 what is the amount of Taxi Cabs contributed capital at the end of the year?

BE5-17 Computation of Retained Earnings. Taxi Cabs, Inc reported the following account balances on its balance sheet as of the beginning of the current year.

Retained Comings	$1,250,000
Common Stock, $1 Par (200,000 Shares)	$ 200,000
Additional Paid-in-Capital in Excess of Par-Common	$ 775,000
Accumulated other Comprehensive Income	$ 345,000
It reported the following information for the current year
Net Income	$140,000
Unrecognized Pension Costs	$ (67,000)
Dividends Declared	$ 10,000
Issued 50.000 Shares of Common Stock for $125,000	$125,000
Unrealized Losses on Available-for-Sale Investments	$(22,000)
Foreign Currency Translation Adjustments—Gain	$ 13,000

What is the balance in the retained earnings account at the end of the year?