On January 31, 2016, Leia transferred to its stockholders some of its equity investments. As of 01-31-16, the investments had a carrying value of $700,000 and a fair market value of $1,200,000. On March 1, Leia distributed the equity securities to stockholders of record as of February 20, 2016. Prepare the entries Leia should make on

January 31, 2016.

February 20, 2016.

March 1, 2016.

Assume that as of 12-31-15, Leias retained earnings account balance was $10,000,000. Also assume that during the three months ended 03-31-16, Leia recorded sales revenues of $5,000,000 and expenses of $3,900,000. Based on these two assumptions AND the impact of the entries you made for the property dividend, what was Leias retained earnings balance as of 03-31