At December 31, 2019, Afro Corp. reported P1,750,000 of appropriated retained earnings for the construction of a new office building, which was completed in 2020 at a total cost of P1,500,000. In 2020, Afro appropriated P1,200,000 of retained earnings for the construction of a new plant.  Also, P2,000,000 of cash was restricted for the retirement of bonds due in 2022.  In its 2020 balance sheet, Afro should report what amount of appropriated retained earnings? P1,450,000 P2,950,000 P1,200,000 P3,200,000

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