Swifty Corporation has retained earnings of $712,800 at January 1, 2020. Net income during 2020 was $1,558,200, and cash dividends declared and paid during 2020 totaled $79,800. Prepare a retained earnings statement for the year ended December 31, 2020. Assume an error was discovered: land costing $88,260 (net of tax) was charged to maintenance and repairs expense in 2019. (List items that increase retained earnings first.)