4.Below is the retained earnings account for the year 2019 for LeClair Corp. Retained earnings, January 1. 2019 $257,600 Add: Gain on sale of investments (net of tax) $41,200 Net income 84,500 Refund on litigation with government, related to the year 2016 (net of tax) 21,600 Recognition of income earned in 2018, but omitted from income 300 statement in that year (net of tax) 25.400 172700 Deduct: Loss on discontinued operations (net of tax) 25,000 Write-off of goodwill (net of tax) 60,000 430 Cumulative effect on income of prior years in changing from LIFO to FIFO inventory valuation in 2019 (net 18,200 of tax) Cash dividends declared $32.000 135.200 Retained earnings, December 31, 2019 $295.100 Instructions (a) Prepare a corrected retained earnings statement. LeClair Corp. normally sells investments of the type mentioned above. FIFO inventory was used in 2019 to compute net income. (b) State where the items that do not appear in the corrected retained earnings statement should be shown.