What is the ending balance of retained earnings?

For all of 2007, Axel Company has $1 par value common stock, 200,000 shares authorized, 100,000 shares issued and 90,000 shares outstanding. The balance in Retained Earnings at the beginning of the year was $500,000. Net income for the current year was $300,000. If the company declared and paid a cash dividend of $2 per share on its common stock during 2007, what is the balance in Retained Earnings at the end of the year?