Prepare a 2020 retained earnings statement for Bramble Corporation. (List items that increase adjusted retained earnings first.) Bramble Corporation began operations on January 1, 2017. During its first 3 years of operations, Bramble reported net income and declared dividends as follows:

		Net income			Dividends declared
2017		$46,100			$ 0
2018		129,900			57,900
2019		168,500			52,200

The following information relates to 2020.

Income before income tax		$247,300
Prior period adjustment: understatement of 2018 depreciation expense (before taxes)		$26,100
Cumulative decrease in income from change in inventory methods (before taxes)		$40,000
Dividends declared (of this amount, $26,100 will be paid on Jan. 15, 2021)		$110,100
Effective tax rate		20	%