Concord Corporation began operations on January 1, 2022. During its first 3 years of operations, Concord reported net income and declared dividends as follows. Dividends Net income declared 2022 $35,200 $ -0- 2023 110,000 44,000 2024 140,800 44,000 The following information relates to 2025. Income before income tax $211,200 Prior period adjustment: understatement of 2023 depreciation expense (before taxes) Dividends declared (of this amount, $22,000 will be paid on Jan. 15, 2026) 22,000 88,000 Effective tax rate 20% (a) Prepare a 2025 retained earnings statement for Concord Corporation. (List items that increase adjusted retained earnings