Hi, I hope all is well. I am having some difficulties with these 2 problems, was hoping you could help.

10:35 PM Tue Oct 13 all 34% WP Exam #1 X in Course: ACCT 303 Cost X G Tamaris NWP Assessment Player X a assessment.education.wiley.com 5 . . . - Homework #3 Question 4 of 5 - /1 Tamarisk Corporation began operations on January 1, 2017. During its first 3 years of operations, Tamarisk reported net income and declared dividends as follows: Dividends Net income declared 2017 $43,200 $ -0- 2018 131,900 56,400 2019 168,500 55,200 The following information relates to 2020. Income before income tax $232,700 Prior period adjustment: understatement of 2018 depreciation expense (before taxes) $29,300 Cumulative decrease in income from change in inventory methods (before taxes) $39,000 Dividends declared (of this amount, $29,300 will be paid on Jan. 15, 2021) $111,600 Effective tax rate 20 % Prepare a 2020 retained earnings statement for Tamarisk Corporation. (List items that increase adjusted retained earnings first.) TAMARISK CORPORATION Retained Earnings Statement For the Year Ended December 31, 2020 V10:35 PM Tue Oct 13 all 34% a assessment.education.wiley.com - Homework #3 Question 4 of 5 _ /1 E Below is the Retained Earnings account for the year 2020 for Blossom Corp. Retained earnings, January 1,2020 $262,490 Add: Gain on sale of investments (net of tax) $46,090 Net income 89,390 Refund on litigation with government, related to the year 2017 (net of tax) 26,490 Recognition of income earned in 2019, but omitted from income statement in that year (net of tax) 30,290 192,260 454,750 Deduct: Loss on discontinued operations (net of tax) 39,890 Write-off of goodwill (net of tax) 64,890 Cumulative effect on income of prior years in changing from LIFO to FIFO inventory valuation in 2020 (net of tax) 28,090 Cash dividends declared 36,890 169,760 Retained earnings, December 31,2020 $284,990 (3) Prepare a corrected retained earnings statement. Blossom Corp. normally sells investments of the type mentioned above. FIFO inventory was used in 2020 to compute net income. (List items that increase adjusted retained earnings rst.) BLOSSOM CORP. Retained Earnings Statement