I have everything correct except for the retained earnings, which decreases by 54,530 but I dont know why, and the textbook is unclear

Problem 2.10A Preparing a Balance Sheet; Discussion of Accounting Principles (LO2-2, LO2-4) Big Screen Scripts is a service-type enterprise in the entertainment field, and its manager, William Pippin, has only a limited knowledge of accounting. Pippin prepared the following balance sheet, which, although arranged satisfactorily, contains certain errors with respect to such concepts as the business entity and asset valuation. Pippin owns all of the corporation's outstanding stock. In discussion with Pippin and by inspection of the accounting records, you discover the following facts. 1. The amount of cash, $5,150, includes $3,400 in the company's bank account, $540 on hand in the company's safe, and $1,210 in Pippin's personal savings account. 2. One of the notes receivoble in the amount of $500 is an IOU that Pippin recelved in a poker game several years ago. The 10U is signed by "B.K.," who Pippin met at the game but has not heard from since. 3. Office furniture includes $2,900 for a Persian rug for the office purchased on November 20 . The total cost of the rug was $9,400. The business paid $2,900 in cash and issued o note payable to Zoltan Carpet for the balance due ($6,500). As no payment on the note is due until January, this debt is not included in the liabilities given here. 4. Also included in the amount for office fumiture is a computer that cost $2,525 but is not on hand because Pippin donated it to a local charity. 5. The "Other Assets" of $22,400 represent the total amount of income taxes Pippin has paid the federal government over a period of years. Pippin believes the income tax law to be unconstitutiono, and of friend who ottends law school has promised to help Pippin recover the taxes paid os soon os he posses the bar exam. 6. The asset "Land" was acquired ot o cost of $39,000 but was increosed to 0 voluotion of $70,000 when one of Pippin's friends. offered to poy that much for it if Pippin would move the bul ding off the lot. 7. The accounts payoble include business debts of $32.700 and the $3.105 bolonce owed on Pippin's personol MasterCard. 4. Also included in the amount for ottice tumiture is a computer that cost $2,525 but local charity. 5. The "Other Assets" of $22,400 represent the total amount of income taxes Pippin of years. Pippin believes the income tax law to be unconstitutional, and a friend wh Pippin recover the taxes paid as soon as he passes the bar exam. 6. The asset "Land" was acquired at a cost of $39,000 but was increased to a valuatic offered to pay that much for it if Pippin would move the building off the lot. 7. The accounts payable include business debts of $32,700 and the $3,105 balance o Required: a. Prepare a corrected balance sheet at November 30 , current year