Below is the Retained Earnings account for the year 2025 for Oriole Corp. Retained earnings, January 1, 2025 Add: Gain on discontinued operations (net of tax) Net income $16,000 172,300 45,200 Gain on sale of investments (net of tax) Cumulative effect on income of prior years in changing from LIFO to FIFO inventory valuation in 2025 (net of tax) 56,600 Refund on litigation with government, related to the year 2022 (net of tax) 55,600 Recognition of income earned in 2024, but omitted from income statement in that year (net of tax) $620,050 53,700 399,400 1,019,450 Deduct: Write-off of goodwill (net of tax) 254,000 Cash dividends declared 64,000 318,000 Retained earnings, December 31, 2025 $701,450