Chile Company issued a share capital of 100,000 shares with a P10 par value. Retained earnings on January 1, 2021, are P 1,250,800. During the year: 1. 2. 3. 4. 5. The entity reacquired its own shares of 5,000 at the cost per share of P25. Appropriate P 500,000 of cash earnings for the sinking fund. Restrict retained earnings of P 1,000,000 for future building expansion. Net income is P 1,500,000. Reissue 2,500 shares for P35 per share. How much is Retained earnings - appropriated at year-end? Correct answer: 1,062,500