CullumberCorporation is a private company in Canada following ASPE. On December 31, 2019, the company had reported $2,950,000in retained earnings on its financial statements. During the year,Cullumberhad net income of $730,000and declared cash dividends of $140,000. Also, during the year,Cullumbermade a retrospective change in accounting policy by applying a new inventory costing method. The change improved prior years' net income by $90,000, before income taxes (tax rate is30%).

Prepare 2020 retained earnings statement forCullumberCorporation.

Everything that is grey is the things I correctly solved. The only thing I need help with are the white tabs that have numbers in them. I would really appreciate it if you can help me with calculating these 4. Thanks in advance.

Cullumber Corporation Statement of Retained Earnings For the year ended December 31, 2020 ince, January 1, as previously reported $ 2950000 hulative effect on prior years of retrospective application of new inventory costing method v 90000 ance, January 1, as adjusted 3040000 Net Income / (Loss) 730000 3770000 Cash Dividends 140000 i Ince, December 31 $ 3630000 Activate Wi Go to Settings