2. In late 2018 "company XYZ" discovered that sales revenues of 2016 was overstated by $ 40,000, What is the balance of retained earnings as of 31/12/2018 if you know that retained earnings balance as of 01/01/2018 was $200,000, net income for the year 2018 was $150,000? (2 Points) O $ 350,000 O $ 310,000 O None of provided answers is correct O $ 390,000