A company decided to change its inventory costing method from FIFO to the weighted average method (WVA) on 1/1/2021. The value of the inventories is as follows: FIFO WAV $150,000 December 31, 2019 $170,000 170,000 December 31, 2020 200,000 The tax rate is 30%. What is the cumulative net effect of this on the beginning balance of retained earnings 1/1/2021