Presented below is information which relates to Sheridan Ltd., a Canadian private company. Net loss $118,000 Retained earnings, January 1, 2023 334,000 Cash dividends declared on common shares 67,000 Understatement of net income resulting from 2022 inventory error (pre-tax) 86,000 Prepare in good form, a statement of retained earnings for the year ended December 31, 2023. The tax rate is 20%. (List items that increase retained earnings first.) Prepare in good form, a statement of retained earnings for the year ended December 31, 2023. The tax rate is 20%. (List items that increase retained earnings first.) Sheridan Ltd. Statement of Retained Earnings