Diamond Inc. had the following equity accounts on January 1, 20x3:

Common shares (222094 issued)

$825,000

Retained Earnings

916558

During the year 20x3, Diamond Inc. had the following equity transactions:

Feb. 2

Issued 10072 common shares for $30,000.

June 30

Effected a 2-for-1 stock split.

Aug. 15

Declared a $1.85 cash dividend per share to shareholders of record August 15, payable January 15, 20x4.

Dec. 31

Annual net income of $517500.

What is Diamond Inc.s ending retained earnings balance?

Select one:

a. $1219304

b. $1434058

c. $575044

d. $1004551