Required information The financial statements for Goodwin, Inc., and Corr Company for the year ended December 31, 2018, prior to the business combination whereby Goodwin acquired Corr, are as follows (in thousands): Goodwin $ 2,700 1,980 $ 720 $ 2,400 720 Corr $ 600 400 $ 200 (270) $ 2,850 Revenues Expenses Net income Retained earnings, 1/1 Net income Dividends Retained earnings, 12/31 Cash Receivables and inventory Buildings (net) Equipment (net) Total assets Liabilities Common stock Additional paid-in capital Retained earnings Total liabilities and stockholders' equity $ 240 1,200 2,700 2,100 $ 6, 240 $ 1,500 1,080 810 2,850 $ 6,240 $ 400 200 (0) $ 600 $ 220 340 600 1,200 $ 2,360 $ 400 540 600 $ 2,360 820 On December 31, 2018, Goodwin obtained a loan for $600 and used the proceeds, along with the transfer of 30 shares of its $10 par value common stock, in exchange for all of Corr's common stock. At the time of the transaction, Goodwin's common stock had a fair value of $40 per share. In connection with the business combination, Goodwin paid $25 to a broker for arranging the transaction and $35 in stock issuance costs. At the time of the transaction, Corr's equipment was actually worth $1,400 but its buildings were only valued at $560. Compute the consolidated retained earnings at December 31, 2018