Given the following information, prepare Lakeside Products Ltd.'s statement of retained earnings for the year ended December 31, 2020. An inventory error caused net income of the prior year to be overstated by $44,000. Retained Earnings at January 1, 2020, as previously reported, stood at $2,422,000. Net income for the year ended December 31, 2020, was $446,000. Dividends during 2020 were $58,000. Complete the statement of retained earnings below. (Use parentheses or a minus sign when subtracting numbers.) Lakeside Products Ltd. Statement of Retained Earnings For the Year Ended December 31, 2020 Less