Brief Exercise 4-10 Culver Corporation has retained earnings of $714,200 at January 1, 2017. Net income during 2017 was $1,527,900, and cash dividends declared and paid during 2017 totaled $82,600. Prepare a retained earnings statement for the year ended December 31, 2017. Assume an error was discovered: land costing $88,780 (net of tax) was charged to maintenance and repairs expense in 2014. (List items that increase retained earnings first.) CULVER CORPORATION Retained Earnings Statement For the Year Ended December 31, 2017 Retained Earnings, January 1, as Reported 714200 Net Income / (Loss) 1527900 Add Net Income / (Loss)