Swan Corporation, a calendar year C Corporation, had the following information for 2011:

Net income per books (After tax) .................$174,700

Taxable income .......................$195,000

Federal income taxed per books ................ $ 59,300

Cash dividend distributions ................... $ 35,000

Unappropriated retained earnings, as of January 1, 2012 ......$636,450

Based on the above, use schedule M-2 of form 1120 to determine swan’s unappropriated retained earnings balance as of December 31, 2012.