Presented below is information which relates to Sunland Ltd., a Canadian private company.

*Please show your work*

Presented below is information which relates to Sunland Ltd., a Canadian private company. Net loss $132,000 Retained earnings, January 1, 2020 325,000 Cash dividends declared on common shares 58,000 Understatement of net income resulting from 2019 inventory error (pre-tax) 78,000 Prepare in good form, a statement of retained earnings for the year ended December 31, 2020. The tax rate is 25%. (List items that increase retained earnings first.) Prepare in good form, a statement of retained earnings for the year ended December 31, 2020. The tax rate is 25%. (List items that increase retained earnings first.) Sunland Ltd. Statement of Retained Earnings V $ $