prepare a 2020 retained earnings statement for Splish Corporation

Splish Corporation began operations on January 1, 2017. During its first 3 years of operations, Solish reported net income and declared dividends as follows: Net income $ 43,400 Dividends declared 2017 $-0- 2018 128,900 59,800 2019 165,000 55,400 D The following information relates to 2020, Income before income tax $ 231,800 $25 800 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. $ 25,800 will be paid on Jan 15, 2021) $35.000 $115.200 Effective tax rate 20