In late 2018 company XYZ discovered .16 that "sales revenues" of 2016 was overstated by $ 40,000, and "selling expenses" was overstated by $ 30,000. What is the balance of retained earnings as of 31/12/2018 if you know that retained earnings balance as of 01/01/2018 was $200,000, net income ?for the year 2018 was $150,000 (3 ) 340,000 $ O 420,000 $ O 360,000 $ O 280,000 $ O