Q4. The retained earnings statement of XYZ Corporation on 31st December 2021 had the following balances: Balance, January 1 SAR 165,000 Net income 35,000 Dividends (20,000) Balance, December 31 $ 180,000 However, before issuing the report for the year ended December 31, 2021, it discover a SAR 20,000 error undervalued inventory that overstated the net income to be higher in 2020 and overvalued depreciation amount of $5,000 which understated net income in 2020. How would SAUDI ELECTRONIC UNN College of Administration and Finance Sciences this discovery have an impact on the reporting of the Statement of Retained Earnings for 2021?? (Marks 3)