Presented below are the comparative income and retained earnings statements for Blue Inc. for the years 2017 and 2018. Sales Cost of Seles Gross Profit Expenses Net Income Retained Earnings (Jan. I) Net Income Dividends Retained Earnings (Dec. 31) 3193.000 73.000 120.000 62.000 358.000 S144.ooo 58.000 (26.000 ) 3176.000 2017 3189.000 68.000 121.000 "1.000 3103.000 61.000 (20.000 ) 3144000 I. 2. In 2018, Blue Inc. decided to switch its depreciation method from double-declining balance to the straight-line method. The depreciable assets were purchased at the beginning of 2017 for SS 1.000 with an estimated useful life of 5 years and no salvage value. The 2018 income statement above contai ns depreciation expense of 312240 on these assets In 2018. the company discovered that the ending inventory for 2017 was understated by $8,300; ending inventory for 2018 is correctly stated _ Prepare the revised retained earnings statement for 2017 and 2018, assuming comparative statements. BLUE INC. Eunin# Staternt For the Year Ended Retained Earnings. January I. Unadjusted Correction of Error for nventoty Urderstatement v Retained Ear nine. January' I. Zjusted Net / (Loss) Retained Ear nings. December 31 2018 144.000 64.120 190420 2017 69.300 152300