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You have been given the following information for PattyCake’sAthletic Wear Corp. for the year 2018:Net sales = $39,150,000.Cost of goods sold = $22,270,000.Other operating expenses = $6,900,000.Addition to retained earnings = $1,215,500.Dividends paid to preferred and common stockholders =$1,955,500.Interest expense = $1,875,000.The firm’s tax rate is 30 percent.In 2019:Net sales are expected to increase by $10.15 million.Cost of goods sold is expected to be 60 percent of netsales.Depreciation and other operating expenses are expected to be thesame as in 2018.Interest expense is expected to be $2,150,000.The tax rate is expected to be 30 percent of EBT.Dividends paid to preferred and common stockholders will notchange.Calculate the addition to retained earnings expected in2019.