Crit Inc.'s incomplete stockholder's equity section is shown below.
|Incomplete stockholder's equity section:|
|Common stock, $2 par, 1,000,000 shares authorized, — ? — shares issued||\$700,000|
|Paid in capital in excess of par||\$160,000|
|Retained earnings||— ? —|
|Treasury stock (2,000 shares of common stock)||\$8,000|
If total equity is \$974,000, what is the amount of Retained Earnings?