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Organizational Beh.. Portland State Univ... aFlatWorld EResult List: amazon... u d21- Google Se.. Business Insights: G.. Skysong Corporation began operations on January 1, 2017. During its first 3 years of operations, Skysong reported net income and declared dividends as follows: Dividends Net income declared $45,100 $-0- 2017 2018 56,400 132,100 53,900 161,100 2019 The following information relates to 2020 Income before income tax $223,800 Prior period adjustment: understatement of 2018 depreciation expense (before taxes) Cumulative decrease in income from change in inventory methods (before taxes) Dividends declared (of this amount, $31,500 will be paid on Jan. 15, 2021) $31,500 $38,500 $110,300 20% Effective tax rate Prepare a 2020 retained earnings statement for Skysong Corporation. (List items that increase adjusted retained earnings first.) 5:45 PM Organizational Beh G psu d2 Google Se Portland Sate UnN $ eTextbook and Media Assume Skysong Corporation restricted retained earnings in the amount of $73,220 on December 31, 2020. After this action, what would Skysong report as total retained eanings in its December 31, 2020, balance sheet? Total retained earnings eTextbook and Media Attempts: 0 of 5 used Submit Answer Save for Later