Culver Corporation prepares financial statements in accordance with ASPE At January 1, 2020, the company had retained earnings of $1,350,000 in 2020, net income was $322,000, and cash dividends of $50,000 were declared and paid. Prepare a statement of retained earnings for Culver Corporation, assuming that in 2020, Culver discovered that it had overstated 2017 depreciation by $34,000 (net of tax of $17,000). (List items that increase retained earnings first.) Culver Corporation Statement of Retained Earnings