What is the retained earnings balance ending December 31, 2021? On January 1, 2021, MARVEL Corporation's shareholders'

 What is the retained earnings balance ending December 31, 2021?

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On January 1, 2021, MARVEL Corporation's shareholders' equity comprised of $5,000,000 share capital, par $100, P3,000,000 of share premium and retained earnings of P1,500,000. During the year, MARVEL had the following selected transactions in chronological order: . Corrected overstatement of 2020 net income because of depreciation error, $50,000 Share dividend of 15% was declared and issued when the shares are selling at 120 per share. Declared a cash dividend of $1.75 per share Net income for the year amounts to $850,000 On January 1, 2021, MARVEL Corporation's shareholders' equity comprised of $5,000,000 share capital, par $100, P3,000,000 of share premium and retained earnings of P1,500,000. During the year, MARVEL had the following selected transactions in chronological order: . Corrected overstatement of 2020 net income because of depreciation error, $50,000 Share dividend of 15% was declared and issued when the shares are selling at 120 per share. Declared a cash dividend of $1.75 per share Net income for the year amounts to $850,000

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