Save Answer Jackson Co. reported a retained earnings balance of $500,000 at December 31, 2021. In August 2022, Jackson determined that insurance premiums of $80,000 for the four- . year period beginning January 1, 2021, had been paid and fully expensed in 2021. Jackson has a 25% income tax rate. Considering the effect of tax, what amount should Jackson report as adjusted beginning retained earnings in its 2022 statement of retained earnings? O $545,000 O $580,000 O $455,000 O $550,000