How to return a specific value when using entity_load?
OK, here's what I did, after discovering Entity Metadata Wrappers:

//FORMATS ARRAY TO SOMETHING EASIER TO HANDLE
$entity_wrapper = entity_metadata_wrapper('paragraphs_item', reset($entity));
//RETURN THE VALUE OF THE IMAGE ARRAY
$image = $entity_wrapper-&gt;field_image-&gt;value();
//RETURN THE (FULL) URL OF THE IMAGE
$file_url = file_create_url($image['uri']);