Rot Campary began 2016 with a 5135,000 bolance in retaned earnngs: Dunng the yeac the followng events sceurred 1. The company earned net inceme of 171,000 . 2. A material euror in net income trom a previoum period was cerrected. Thit wrer correction increased retained earnings by 58 , at? after related neome taxes of 51. , 200 . 3. Cash dividends totaing 110,500 and stock dividends totaling $1 B,000 ware declared. 4. One thousand whares of callabie greferred stock that pnginally had been istued at 1115 per share were recalled and retured at the boginting of 2016 for the call orice of siso per shate. earmings iestrictera in a nots te the firanoil statements. Heguirnd: 1. frepare a statement of retaned esrings for the year ended Dencember 31, 2016