Transcribed image text: Presented below is information which relates to Cullumber Ltd, a Canadian private company. Net loss $121,000 Retained earnings, January 1, 2020 336,000 Cash dividends declared on common shares 56,000 Understatement of net income resulting from 2019 inventory error (pre-tax) 88,000 Prepare in good form, a statement of retained earnings for the year ended December 31, 2020. The tax rate is 25% (List items that Increase retained earnings first.) Cullumber Ltd. Statement of Retained Earnings Year Ended December 31, 2020 Search o