At the 1 January 2019, the amount of Retained earnings reported by Moon Corporation is $2,500,000. During 2019, Moon Corporation issued common stocks of $750,000, declared and paid cad dividends of $140,000, and declared share dividends of $320,000. The mount of net income of 2019 reported by Moon Corporation is $1,000,000. Moon Corporation was required to make a comection of understatement of depreciation expenses in prior years of $430,000 (net of tax) Required: How much was the retained earnings reported on 31 December, 20197 (Show your calculations)