Swifty Corporation prepares financial statements in accordance with ASPE. At January 1, 2020, the company had retained earnings of $1,150,000. In 2020, net ir dividends of $45,000 were declared and paid. Prepare a statement of retained earnings for Swifty Corporation, assuming that in 2020, Swifty discovered that it had overstated 2017 depreciation by $44,000 ( items that increase retained earnings first.) Swifty Corporation Statement of Retained Earnings For the Year Ended December 31, 2020 T Balance, January 1, as reported 1150000 XLIBRE Net Income / (Loss) 329000 IEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEIIIIIIIIIIIIIIIIIIIIIII || Balance, January 1, as adjusted 1479000 Less : Dividends -45000 IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 1434000 Add Add D. Correction to Correction for overstatement of depreciation in 2017 (net of tax of $17,000) -44000 | Balance, December 31 1390000