Question 3 Indigo Corporation has retained earnings of $679,600 at January 1,2017. Net income during 2017 was $1,649,300, and cash dividends declared and paid during 2017 totaled $78,500. Prepare a retained earnings statement for the year ended December 31, 2017. Assume an error was discovered: land costing $89,140 (net of tax) was charged to maintenance and repairs expense in 2014. (List items that increase retained earnings first.) year ended December 31, INDIGO CORPORATION Retained Earnings Statement