On January 1, 2024, Cullumber Corporation had retained earnings of $670,000. During the year, Cullumber had the following selected transactions: 1. Declared and paid cash dividends, $254,000 2. Earned profit before income tax, $840,000. 3. Correcteda prior period error of $93,000, before income tax, which resulted in an understatement of profit in 2023 , 4. Reacquired 23,000 common shares for $53.000 more than the original issue price. This was the first time the company had cver reacquired its own shares. 5. Completed a 3-for-1 stock split of the commonshares. Cullumber 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 camings first) CULLUMBER CORPORATION Statement of Retained Earnings Year Ended December 31.2024. Balance, danuary 1. as Previously Reported Add v: Correction for Understatement of 2023 Proft due to Error v Balance, January 1, as Previously Reported Add v: Proft / (loss) for the Year Cash Dlvidends Excess Cont of Rescquired Shares Balance, December 31 eTextbook and Media