Titania Corporation's net income for the year ended December 31, 2018, is $380,000. On June 30, 2018, a $0.75 per share cash dividend was declared for all common shareholders. Common shares in the amount of 38,000 were outstanding at the time. The market price of Titania's shares at year-end (12/31/18) is $18 per share. Titania had a $1,100,000 credit balance in retained earnings at December 31, 2017. Required: Calculate the ending balance (12/31/18) of retained earnings