Ch July 9,2024, Ivanhoe Enterprises Inc. discovered it had recorded the $68,000 purchase of land as a legal expense on November 8 , 2023. The company had reported retained earnings of $516,000 at its previous year end, December 31,2023 . During 2024, Ivanhoe had profit of $174,000 and it declared and paid cash dividends of $194,000. Ivanhoe has a 25\% income tax rate. Prepare the journal entry to correct the error. (Credit occount titles are outomaticolly indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter Ofor the amounts. List all debit entries before credit entries) Assuming the company reports under ASPE, prepare a statement of retained earnings, (List items that increase adjusted retoined eamings first.)