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The trial balance of Mint Corp. at December 31, Year 6, is presented below and has been adjusted except for income tax expense. Other financial

The trial balance of Mint Corp. at December 31, Year 6, is presented below and has been adjusted except for income tax expense. Other financial data for the year ended December 31, Year 6, are as follows:
  1. During Year 6, estimated tax payments of $450,000 were charged to prepaid taxes. Mint has not recorded income tax expense. There were no temporary or permanent differences, and Mints tax rate is 30%.

Dr.

Cr.

Cash

$ 600,000

Accounts receivable, net

3,500,000

Contract asset

1,600,000

Contract liability

$ 700,000

Prepaid taxes

450,000

Fixed assets, net

1,480,000

Note payable -- noncurrent

1,620,000

Common stock

750,000

Additional paid-in capital

2,000,000

Retained earnings -- unappropriated

900,000

Retained earnings -- restricted for note payable

160,000

Earnings from long-term contracts

6,680,000

Costs and expenses

5,180,000

$12,810,000

$12,810,000

Question

In Mints December 31, Year 6, balance sheet, what amount should be reported as total retained earnings?

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