On January $1,2024,$ Sheridan Corporation had retained earnings of $$630,000.$ During the year, Sheridan had the following selected transactions:

Declared and paid cash dividends, $$259,000.$

Earned profit before income tax, $$810,000.$

Corrected a prior period error of $$87,000,$ before income tax, which resulted in an understatement of profit in $2023.$

Reacquired $30,000$ common shares for $$54,000$ more than the original issue price. This was the first time the company had ever reacquired its own shares.

Completed a $3-$for$-1$ stock split of the common shares.

Sheridan has a $25\%$ income tax rate and'reports under ASPE.

Prepare a statement of retained earnings for the year ended December $31,2024.($List items that increase adjusted retained earnings first.$)$

SHERIDAN CORPORATION

Statement of Retained Earnings