The Retained Earnings account of Burumbumbum Company shows the following debits and credits for the year 2021: RETAINED EARNINGS Balance Date Debit Credit Debit Credit Jan. 1 Balance 726,400 (a) Loss from fire 5,250 721,150 (b) Write-off of goodwill 52,500 668,650 (c) Stock dividends distributed 140,000 528,650 (d) Loss on sale of equipment 48,300 480,350 (e) Officers' compensation related to income of prior periods - accrual overlooked 325,500 154,850 (f) Loss on retirement of preferred shares at more than issue price 70,000 84,850 (g) Paid in capital in excess of par 129,500 214,350 (h) Stock issuance expenses (related to letter g) 10,000 204,350 (i) Stock subscription defaults 8,470 212,820 (j) Gain on retirement of preferred stock at less than issue price 25,900 238,720 (k) Gain on early retirement of bonds 15,050 253,770 (1) Gain on life insurance policy settlement 10,500 264,270 (m) Correction of a prior period error 50,050 314,320 (n) Effect of change in accounting principle from FIFO to weighted average 100,000 414,320 (0) Dividends payable 25,000 389,320 (p) Loss on sale of treasury stock 20,000 369,320 (q) Proceeds from sale of donated stock 40,000 409,320 (r) Appraisal increase in land 250,000 659,320 (s) Appropriated for property acquisition 100,000 559,320 Questions: 1. Prepare adjusting journal entries to correct the Retained Earnings account. 2. Determine the correct amount of Retained Earnings account.