The stockholders' equity section of Piper Corporation's balance sheet at December 31, 2016, appears below: Stockholders' equity Paid-in capital Common stock, $10 par value, 400,000 shares authorized; 300,000 issued and outstanding Paid-in capital in excess of par Total paid-in capital Retained earnings $3,000,000 1.200.000 4,200,000 900,000 $5,100,000 Total stockholders' equity During 2017, the following stock transactions occurred: Jan. 18 Issued 80,000 shares of common stock at $23 per share Aug. 20 Purchased 20,000 shares of Piper Corporation's common stock at $25 per share to be held in the treasury. Assume that net income for the year was $150,000 and that no dividends were declared. What amount of retained earnings was reported on the December 31, 2017 balance sheet? None of the answers provided. 900,000 150,000 800,000 5,100,000 1050.000