<PAGE> PAGE 1
000 A000000 12/31/97
000 C000000 0000055618
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 EVERGREEN BALANCED FUND(K-1)
001 B000000 811-96
001 C000000 6173383200
002 A000000 200 BERKELEY STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02116
002 D020000 5034
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 KEYSTONE INVESTMENT MANAGEMENT CO.
008 B000001 A
008 C000001 801-8327
008 D010001 BOSTON
008 D020001 MA
008 D030001 02116
008 D040001 5034
010 A000001 EVERGREEN INVESTMENT SERVICES INC.
010 C010001 BOSTON
010 C020001 MA
010 C030001 02116
010 C040001 5034
011 A000001 EVERGREEN DISTRIBUTOR INC.
011 B000001 8-395
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10019
012 A000001 EVERGREEN SERVICE CO.
<PAGE> PAGE 2
012 B000001 84-1571
012 C010001 BOSTON
012 C020001 MA
012 C030001 02116
012 C040001 5034
013 A000001 KPMG PEAT MARWICK LLP
013 B010001 BOSTON
013 B020001 MA
013 B030001 02116
014 A000001 LIEBER & CO.
014 B000001 8-14923
014 A000002 FIRST UNION BROKERAGE SERVICES, INC.
014 B000002 8-24369
015 A000001 STATE STREET BANK AND TRUST CO
015 B000001 C
015 C010001 QUINCY
015 C020001 MA
015 C030001 02171
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 78
019 C000000 EVERGREENS
020 A000001 ABN-AMRO SECURITIES
020 B000001 13-3227945
020 C000001 124
020 A000002 DLJ SECURITIES
020 B000002 13-2741729
020 C000002 28
020 A000003 MORGAN STANLEY
020 B000003 13-2655998
020 C000003 24
020 A000004 LEHMAN BROS.
020 C000004 18
020 A000005 PRUDENTIAL SECURITIES
020 B000005 22-2347336
020 C000005 13
020 A000006 CJ LAWRENCE
020 C000006 12
020 A000007 GOLDMAN SACHS
020 B000007 13-5108880
020 C000007 10
020 A000008 BEAR STEARNS
020 B000008 13-3299429
020 C000008 6
020 A000009 MERRILL LYNCH
020 B000009 13-5674085
020 C000009 5
020 A000010 BROWN (ALEX) & SONS
020 B000010 52-1319768
020 C000010 4
<PAGE> PAGE 3
021 000000 259
022 A000001 DLJ SECURITIES
022 B000001 13-2741729
022 C000001 81480
022 D000001 78773
022 A000002 PAINE WEBBER INC.
022 B000002 13-2638166
022 C000002 48005
022 D000002 2266
022 A000003 MORGAN STANLEY & CO., INC.
022 B000003 13-2655998
022 C000003 4992
022 D000003 32160
022 A000004 BEAR STEARNS SECURITIES
022 B000004 13-3299429
022 C000004 22014
022 D000004 13723
022 A000005 UBS SECURITIES
022 B000005 13-2932996
022 C000005 12205
022 D000005 13764
022 A000006 ABN-AMRO SECURITIES
022 B000006 13-3227945
022 C000006 17124
022 D000006 0
022 A000007 SMITH BARNEY
022 B000007 13-1912900
022 C000007 14840
022 D000007 0
022 A000008 MERRILL LYNCH
022 B000008 13-5674085
022 C000008 5093
022 D000008 3968
022 A000009 GOLDMAN SACHS
022 B000009 13-5108880
022 C000009 7500
022 D000009 0
022 A000010 LEHMAN BROS.
022 C000010 6494
022 D000010 0
023 C000000 248839
023 D000000 148829
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
<PAGE> PAGE 4
026 A000000 Y
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 9968
028 A020000 8803
028 A030000 0
028 A040000 26802
028 B010000 9821
028 B020000 0
028 B030000 0
028 B040000 26451
028 C010000 7165
028 C020000 0
028 C030000 0
028 C040000 24200
028 D010000 10423
028 D020000 9594
028 D030000 0
028 D040000 37530
028 E010000 17596
028 E020000 144106
028 E030000 0
028 E040000 19912
028 F010000 15108
028 F020000 0
028 F030000 0
028 F040000 25081
028 G010000 70081
028 G020000 162503
028 G030000 0
028 G040000 159976
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
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032 000000 0
033 000000 0
034 000000 Y
035 000000 3401
036 A000000 N
036 B000000 0
<PAGE> PAGE 5
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
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042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 5255
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 100000
048 A020000 0.600
048 B010000 100000
048 B020000 0.550
048 C010000 100000
048 C020000 0.500
048 D010000 100000
048 D020000 0.450
048 E010000 100000
048 E020000 0.400
048 F010000 500000
048 F020000 0.350
048 G010000 1000000
048 G020000 0.300
048 H010000 0
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048 I010000 0
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048 K010000 0
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049 000000 N
050 000000 Y
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053 A000000 N
054 A000000 Y
054 B000000 N
054 C000000 N
054 D000000 N
054 E000000 N
<PAGE> PAGE 6
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
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061 000000 1000
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<PAGE> PAGE 7
070 D010000 Y
070 D020000 N
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070 F010000 Y
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070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 566023
071 B000000 680162
071 C000000 1373037
071 D000000 42
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<PAGE> PAGE 8
072 R000000 0
072 S000000 0
072 T000000 5255
072 U000000 0
072 V000000 0
072 W000000 291
072 X000000 11057
072 Y000000 4
072 Z000000 22979
072AA000000 90877
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072CC010000 2019
072CC020000 0
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072DD020000 0
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073 A010000 0.1800
073 A020000 0.0000
073 B000000 1.3300
073 C000000 0.0000
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074 C000000 0
074 D000000 637453
074 E000000 41139
074 F000000 918750
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074 M000000 174
074 N000000 1634906
074 O000000 1420
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074 T000000 1631896
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<PAGE> PAGE 9
075 B000000 0
076 000000 0.00
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 ICI MUTUAL INSURANCE CO
080 B000000 SEDGWICK JAMES
080 C000000 50000
081 A000000 Y
081 B000000 78
082 A000000 N
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083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 N
085 B000000 N
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SIGNATURE J. KEVIN KENELY
TITLE VP FUND ADMIN
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 101
<NAME> KEYSTONE BALANCED FUND (K-1) CLASS A
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JUL-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 1,104,328,427
<INVESTMENTS-AT-VALUE> 1,621,670,350
<RECEIVABLES> 13,054,074
<ASSETS-OTHER> 182,073
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,634,906,497
<PAYABLE-FOR-SECURITIES> 1,420,374
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,590,360
<TOTAL-LIABILITIES> 3,010,734
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,086,228,485
<SHARES-COMMON-STOCK> 131,873,465
<SHARES-COMMON-PRIOR> 125,534,120
<ACCUMULATED-NII-CURRENT> 4,045,599
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 23,469,846
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 518,151,833
<NET-ASSETS> 1,631,895,763
<DIVIDEND-INCOME> 11,573,174
<INTEREST-INCOME> 22,458,671
<OTHER-INCOME> 0
<EXPENSES-NET> (11,053,074)
<NET-INVESTMENT-INCOME> 22,978,771
<REALIZED-GAINS-CURRENT> 90,876,515
<APPREC-INCREASE-CURRENT> 2,018,875
<NET-CHANGE-FROM-OPS> 115,874,161
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (22,153,179)
<DISTRIBUTIONS-OF-GAINS> (159,828,039)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,427,397
<NUMBER-OF-SHARES-REDEEMED> (12,193,344)
<SHARES-REINVESTED> 13,105,292
<NET-CHANGE-IN-ASSETS> 6,500,420
<ACCUMULATED-NII-PRIOR> 3,239,562
<ACCUMULATED-GAINS-PRIOR> 92,401,815
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (3,622,603)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (11,053,074)
<AVERAGE-NET-ASSETS> 1,640,112,554
<PER-SHARE-NAV-BEGIN> 12.95
<PER-SHARE-NII> 0.18
<PER-SHARE-GAIN-APPREC> 0.75
<PER-SHARE-DIVIDEND> (0.18)
<PER-SHARE-DISTRIBUTIONS> (1.33)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.37
<EXPENSE-RATIO> 1.34
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
