Lorde Corporations shareholders equity at December 31, 20x3 was as follows:
	Preferred Shares, 4%, noncumulative	$1129648
	Common Shares, 357811 Shares Outstanding	2000000
	Retained Earnings	1987821
During the year, Lordes net income amounted to $812649. Dividends of $0.31 per common share were declared and dividends to the preferred shareholders were declared. What is the balance in retained earnings at December 31, 20x4?

Select one:

a. $-1829043

b. $2800470

c. $2689549

d. $2644363