I do not know if the entered numbers are correct. In fact, most of them are probably incorrect

Exercise 22-09 Presented below are the comparative income and retained earnings statements for Sunland Inc. for the years 2020 and 2021. Sales Cost of sales Gross profit Expenses Net income Retained earnings (Jan. 1) Net income Dividends Retained earnings (Dec. 31) 2021 $306,000 187,000 119,000 89,100 $29,900 $144,600 29,900 (30,200 ) $144,300 2020 $288,000 131,000 157,000 54,900 $102,100 $66,000 102,100 (23,500) $144,600 The following additional information is provided: 1. In 2021, Sunland Inc. decided to switch its depreciation method from sum-of-the-years' digits to the straight-line method. The assets were purchased at the beginning of 2020 for $101,500 with an estimated useful life of 4 years and no salvage value. (The 2021 income statement contains depreciation expense of $30,450 on the assets purchased at the beginning of 2020.) In 2021, the company discovered that the ending inventory for 2020 was overstated by $24,900; ending inventory for 2021 is correctly stated. 2. Prepare the revised retained earnings statement for 2020 and 2021, assuming comparative statements. (Ignore income taxes.) SUNLAND INC. Retained Earnings Statement For the Year Ended 2021 2020 Retained Earnings, January 1, unadjusted 144600 Add : Correction of Error for Inventory Overstatement 24900 Retained Earnings, January 1, adjusted 169500 179350 Less : Dividends 30200 23500 Add : Net Income 40050 102100 Retained Earnings, December 31 179350 257950