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Blossom Corporation began operations on January 1, 2017. During its first 3 years of operations, Blossom reported net income and declared dividends as follows: Net

Blossom Corporation began operations on January 1, 2017. During its first 3 years of operations, Blossom reported net income and declared dividends as follows:

Net income

Dividends declared

2017 $43,300 $ 0
2018 127,900 52,400
2019 165,300 51,100

The following information relates to 2020.

Income before income tax $227,400
Prior period adjustment: understatement of 2018 depreciation expense (before taxes) $25,900
Cumulative decrease in income from change in inventory methods (before taxes) $41,100
Dividends declared (of this amount, $25,900 will be paid on Jan. 15, 2021) $103,500
Effective tax rate 20 %

Assume Blossom Corporation restricted retained earnings in the amount of $75,090 on December 31, 2020. After this action, what would Blossom report as total retained earnings in its December 31, 2020, balance sheet?

Total retained earnings

$

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