Sunland Corporation, a private company, began operations on January 1, 2020. During its first three years of operations, Sunland reported net income and declared dividends as follows: The following information is for 2023 : Income before income tax $310,000 Correction of prior period error: understatement of 2021 depreciation expense (before tax) 39,000 Cumulative increase in prior years' income from change in inventory method (before tax) 49,000 Dividends declared (of this amount, $25,000 will be paid on January 15,2024 ) 100,000 Effective tax rate 40% Prepare a 2023 statement of retained earnings for Sunland. The company follows ASPE. (List items that increase retained earnings firs after adjusted balance. Enter negative amounts using either a negative sign preceding the number e.g. 45 or parentheses e.g. (45).)