Carla Vista Bakeries Inc. reported retained earnings of $424,000 on December 31, 2020. For the year ended December 31, 2021, the company had profit of $147,000, and it declared and paid dividends of $50,000. Assuming the company reports under ASPE. On March 1, 2021, Carla Vista Bakeries Inc. discovered that the cost of Land purchased in 2020 was erroneously recorded as rent expense. The cost of the Land was $5,600. The company's year end is December 31 and the income tax rate is 30%. Prepare a statement of retained earnings. (List items that increase retained earnings first.) Balance, December 31 CARLA VISTA BAKERIES, INC. Statement of Retained Earnings December 31, 2021 44 Add Dividends Total Revenues Add Balance, January 1, 2021 as Previously Reported Less Dividends Balance, January 1, 2021 as Previously Reported 424000 147000 571000