Moorman Corporation reports the following information: Correction of understatement of depreciation expense in prior years, net of tax 430,000 Dividends declared, 2019 320,000 Net income for 2019 1,000,000 Retained earnings, 1/1/19, as reported 2,500,000 Moorman should report retained earnings, December 31, 2019, of Select one: 3,610,000 3,180,000 2,070,000 2,750,000