Pullman Corporation had retained earnings of $2,100,000 at January 1, 2015. During the year the company had net income of $900,000 and declared cash dividends of $240,000. It was discovered in 2015 that $100,000 of repair expense was debited to the Land account in 2014. The income tax rate is 20%. Determine the retained earnings balance at December 31, 2015