Presented below are the comparative income and retained earnings statements for Shamrock Inc. for the years 2020 and 2021. Sales Cost of sales Gross profit Expenses Net income Retained earnings (Jan. 1) Net income Dividends Retained earnings (Dec. 31) 2021 $369,000 190,000 179,000 87,100 $91,900 $ 131,100 91,900 (32,900 ) $190,100 2020 $278,000 140,000 138,000 49,100 $88,900 $65,600 88,900 (23,400 ) $131,100 The following additional information is provided: 1. In 2021, Shamrock Inc. decided to switch its depreciation method from sum-of-the-years' digits to the straight-line method. The assets were purchased at the beginning of 2020 for $91,000 with an estimated useful life of 4 years and no salvage value. (The 2021 income statement contains depreciation expense of $27,300 on the assets purchased at the beginning of 2020.) In 2021, the company discovered that the ending inventory for 2020 was overstated by $25,800; ending inventory for 2021 is correctly stated. 2. Prepare the revised retained earnings statement for 2020 and 2021, assuming comparative statements. (Ignore income taxes.)