calculate part (b)

Sunland Corporation began operations on January 1, 2017. During its first 3 years of operations, Sunland reported net income and declared dividends as follows: Net income Dividends declared $47.700 5-0- 2017 2018 134,300 59.800 2019 161.700 53.500 The following information relates to 2020, Income before income tax 524700 -12 $31.800 Prior period adjustments understatement of 2018 depreciation expense (before taxes) Cumulative decrease in income from change in inventory methods (before taxes) Dividends declared (of this amount, $31,800 will be paid on Jan. 15.2021) $35.200 $113.300 Effective tax rate 20 X Prepare a 2020 retained earnings statement for Sunland Corporation. (List items that increase adjusted retained earnings first) Your Answer Correct Answer * Your answer is incorrect. Assume Sunland Corporation restricted retained earnings in the amount of $65,530 on December 31, 2020. After this action, what would Sunland report as total retained earnings in its December 31, 2020, balance sheet? $ 151.190 Total retained earnings