Please answer c. below, thank you

Halloween Corp. reported net incomes for the last three years as follows:

2020 2019 2018

$ 240,000 $ 225,000 $ 180,000

During the 2020 year-end audit, the following items come to your attention:

1. Halloween bought a truck on January 1, 2017 for $98,000 cash, with an $8,000 estimated residual value and a six-year life. The company debited an expense account for the entire cost of the asset. Halloween uses straight-line depreciation for all trucks.

2. During 2020, Halloween changed from straight-line depreciation for its cement plant to double declining balance. The following calculations present depreciation on both bases:

2020 2019 2018

Straight-line $ 18,000 $ 18,000 $ 18,000

Double declining balance 23,100 30,000 36,000

The net income for 2020 was calculated using the double declining balance method.

3. In reviewing its provision for uncollectible accounts during 2020, the corporation has determined that 1% is the appropriate amount of bad debt expense to be charged to operations. The company had used 1/2 of 1% as its rate in 2019 and 2018 when the expense had been $ 9,000 and $6,000, respectively. Halloween recorded bad debt expense using the new rate for 2020. If they had used the old rate, they would have recorded $ 3,000 less bad debt expense on December 31, 2020.

Please answer c. below, thank you

3. Assume that the beginning retained earnings balance (unadjusted) for 2018 was $630,000. At what adjusted amount should the beginning retained earnings balance for 2018 be shown, assuming that comparative financial statements were prepared?