Question 51 (6 points) Mondial Corporati prepares financial statements in accordance with ASPE. At January 1, 2020, mpany had retained earnings of $420,000. In 2020, net income was $1,737,000, and cash dividends of $360,000 were declared and paid. During fiscal 2020, it was uncovered that depreciation on equipment was understated by $30,000 in 2019. Mondial's tax rate is 40%. Prepare a 2020 statement of retained earnings for Mondial Corporation