Smith Plumbers ended the year with a balance of $300,000 in their owner's equity account. During the year, the business took on another owner who contributed $30,000 in cash and assets. Revenues for the year were $2,325,000 and they recorded expenses of $2,000,000. Cash in the amount of $150,000 was withdrawn by the owners. 

What was the balance in the Owner's Equity account at the beginning of the year? 

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