Nash Corporation began operations on January 1, 2014. During its first 3 years of operations, Nash reported net income and declared dividends as follows: 2014 Net Income $ 187,000 536,000 Dividends declared $-0- 220,000 220,000 2015 2016 649.000 The following information relates to 2017 Income before income tax $ 994,000 Prior period adjustment understatement of 2015 depreciation expense (before taxes) $116,000 Cumulative decrease in income from change in inventory methods (before taxes) $164,000 Dividends declared (of this amount, $ 116,000 will be paid on Jan 15, 2018) $ 440,000 Effective tax rate 4036 Prepare a 2017 retained earnings statement for Nash Corporation. (List items that increase adjusted retained earnings first.) NASH CORPORATION Retained Earnings Statement : $