C Co. reported a retained earnings balance of $210,000 at December 31, 2010. In September 2011, C determined that insurance premiums of $36,000 for the three-year period beginning January 1, 2010, had been paid and fully expensed in 2010. C has a 40% income tax rate. What amount should C report as adjusted beginning retained earnings in its 2011 statement of retained earnings