Question 3 of 5 < View Policies Current Attempt in Progress Presented below is information which relates to Sandhill Ltd, a Canadian private company. Net loss $118,000 Retained earnings, January 1, 2023 332.000 Cash dividends declared on common shares 51,000 Understatement of net income resulting from 2022 inventory error (pre-tax) 71,000 /25 Prepare in good form, a statement of retained earnings for the year ended December 31, 2023. The tax rate is 25%. (List items that increase retained earnings first.) Sandhill Ltd. Statement of Retained Earnings