Below is the Retained Earnings account for the year 2020 for Sunland Corp. Retained earnings, January 1, 2020 $258,700 Add: Gain on sale of investments (net of tax) $42.300 85.600 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) 22,700 26,500 177.100 435,800 Deduct: Loss on discontinued operations (net of tax) 36,100 Write-off of goodwill (net of tax) 61.100 Cumulative effect on income of prior years in changing from LIFO to FIFO inventory valuation in 2020 (net of tax) 24,300 33.100 154,600 Cash dividends declared $281.200 Retained earnings. December 31, 2020 SHIVDCORP. Retained Earnings Statement A >