C Co. reported a retained earnings balance of $310,000 at December 31, 2017. In September 2018, C determined that insurance premiums of $81,000 for the three-year period beginning January 1, 2017, had been paid and fully expensed in 2017. C has a 40% income tax rate. What amount should C report as adjusted beginning retained earnings in its 2018 statement of retained earnings