Crane Corporation began operations on January 1, 2017. During its first 3 years of operations, Crane reported net income and declared dividends as follows: 2017 2018 2019 Net income $47800 130500 167700 Dividends declared $-0- 56500 60000 The following information relates to 2020. Income before income tax Prior period adjustment: understatement of 2018 depreciation expense (before taxes) Cumulative decrease in income from change in inventory methods (before taxes) Dividends declared (of this amount, $28800 will be paid on Jan. 15, 2021) Effective tax rate $248300 $28800 $43000 $116500 20% Prepare a 2020 retained earnings statement for Crane Corporation. (List items that increase adjusted retained earnings first.) CRANE CORPORATION Retained Earnings Statement e Textbook and Media Assume Crane Corporation restricted retained earnings in the amount of $76240 on December 31, 2020. After this action, what would Crane report as total retained earnings in its December 31, 2020, balance sheet? Total retained earnings $