Public Corporation decided to change from the declining-balance method to the straight-line method effective January 1, 20X5. The following information was provided:

Year	Net Income (loss) as Reported	Excess of Declining-balance over straight-Line Depreciation
20X2	(10,000)	8,000
20X3	28,000	12,000
20X4	37,000	6,000

* First year of operation.

The company has a 31 December year-end. The tax rate is 30%. No dividends were declaring the past but the company declared and paid $13,000 in 20X5. Net income for calculated using the new accounting policy was $55,000

The opening Retained Earnings need to be adjusted by?

please left for those who can do this correctly.