late 2018 "company XYZ" discovered.13 that "sales revenues" of 2016 was overstated by $ 40,000, and "selling xpenses" was overstated by $ 30,000. What is the balance of retained arnings as of 31/12/2018 if you know that retained earnings balance as of 1/01/2018 was $200,000, net income ?for the year 2018 was $150,000 * (3 ) 3 280,000 $ 340,000 $ O 360,000 $ O 420,000 $ O