Below is the Retained Earnings account for the year 2020 for Blossom Corp. Retained earnings, January 1, 2020 $ 262,490 Add: $ 46,090 89,390 Gain on sale of investments (net of tax) Net income Refund on litigation with government, related to the year 2017 (net of tax) Recognition of income earned in 2019, but omitted from income statement in that year (net of tax) 26,490 30,290 192,260 454,750 Deduct: 39,890 Loss on discontinued operations (net of tax) Write-off of goodwill (net of tax) Cumulative effect on income of prior years in changing from LIFO to FIFO inventory valuation in 2020 (net of tax) 64,890 28,090 Cash dividends declared 36,890 169.760 Retained earnings, December 31, 2020 $ 284,990 (a) Prepare a corrected retained earnings statement. Blossom Corp, normally sells investments of the type mentioned above. FIFO inventory was used in 2020 to compute net income. (List items that increase adjusted retained earnings first.) BLOSSOM CORP. Retained Earnings Statement . $ 4