Flint Publishers Inc. prepared its draft 20X6 financial statements in February 20X7. The draft SCI showed earnings of $1,100,000. After the draft statements were prepared, but prior to their approval and release, the external auditors discovered several errors:

a. Inventory of $50,000 that was received from an offshore publisher on 29 December 20X6 (and included in the 31 December 20X6 physical inventory count) had not been recorded as an account payable until well into January 20X7.

b. The company had shipped books worth $240,000 to a distant customer FOB shipping point on 28 December 20X6. The revenue (and account receivable) was recorded by Flint on 4 January 20X7. However, the shipment was excluded from inventory so COS has been recorded.

c. Although the company’s internal auditors had discovered a calculation error in the worksheets for the 31 December 20X6 physical inventory, the error was not yet corrected. Year end 20X6 inventory actually should have been $100,000 greater than recorded and reported.

d. Books costing $160,000 were shipped to a large chain of bookstores in the final week of the fiscal year; a sale (and receivable) of $250,000 had correspondingly been recorded. However, the bookstore chain actually had accepted the books only on consignment.

Required:

1. What is the revised 20X6 earnings after correction of these errors?