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.