Splish Corporation began operations on January 1, 2014. During its first 3 years of operations, Splish reported net income and declared dividends as follows. Net income Dividends declared 2014 $46,900 $ 0 2015 129,000 56,700 2016 162,600 52,500 The following information relates to 2017. Income before income tax $235,100 Prior period adjustment: understatement of 2015 depreciation expense (before taxes) $29,900 Cumulative decrease in income from change in inventory methods (before taxes) $35,600 Dividends declared (of this amount, $29,900 will be paid on January 15, 2018) $109,200 Effective tax rate 40 % a. Prepare a 2017 retained earnings statement for Splish Corporation b. Assume Splish Corporation restricted retained earnings in the amount of $74,070 on December 31, 2017. After this action, what would Splish report as total retained earnings in its December 31, 2017, balance sheet?