Question 29 (8 points) On January 1, 2021, Chu Corporation had retained earnings of $ 422,000. During the year, Chu had the following selected transactions: 1. Declared cash dividends of $ 100,000. 2. Suffered a loss of $ 70,000. 3. Corrected understatement of 2020 profit because of an inventory error $ 45,000. The company has a 30% income tax rate. Instructions (show all calculations) Prepare a statement of retained earnings for the year ended December 31, 2021. (in proper format & presentation) Question 13 (2 points) Neo Corporation reported profit of $ 30,000 for the year. During the year, accounts receivable increased by $7,000, accounts payable decreased by $3,000 and depreciation expense of $5,000 was recorded. Net cash provided by operating activities for the year is O a) $ 25,000 Ob) $ 45,000 C) $ 29,000 d) $ 30,000