B) AL Noura Company was engaged in selling of boats in Muscat, Sultanate of Oman. It has retained earnings of OMR 700,000 on 1st January 2019. During the year, company declared and paid the 12% stock dividend and a cash dividend of OMR 50,000. After publishing the financial statements for the year 2019, The Company found the following accounting errors concerned with the year 2018: Understatement of net income because of inventory computational errors OMR 30,000. Overstated sales expense by OMR 200,000. Overstated Insurance expense was recorded at OMR 65,000 B) AL Noura Company was engaged in selling of boats in Muscat, Sultanate of Oman. It has retained earnings of OMR 700,000 on 1st January 2019. During the year, company declared and paid the 12% stock dividend and a cash dividend of OMR 50,000. After publishing the financial statements for the year 2019, The Company found the following accounting errors concerned with the year 2018: Understatement of net income because of inventory computational errors OMR 30,000. Overstated sales expense by OMR 200,000. Overstated Insurance expense was recorded at OMR 65,000 You are required to prepare the retained earnings statement for the year 2019