Eddie Zambrano Corporation began operations on January 1, 2011. During its first 3 years of operations, Zambrano reported net income and declared dividends as follows.

		Net income			Dividends declared
2011		$40,900			$ 0
2012		134,300			52,600
2013		163,500			59,400

The following information relates to 2014.

Income before income tax		$228,600
Prior period adjustment: understatement of 2012 depreciation expense (before taxes)		$34,000
Cumulative decrease in income from change in inventory methods (before taxes)		$36,600
Dividends declared (of this amount, $34,000 will be paid on January 15, 2015)		$112,000
Effective tax rate		40	%

Prepare a 2014 retained earnings statement for Eddie Zambrano Corporation