Tuscan Inc. had a retained earnings balance of $80,000 at December 31,2018 . During the year, Tuscan had the following selected transactions. - Reported net income of $120,000. - Revised an estimate of a machine's salvage value. Depreciation increased by $3,000 per year. - An error was discovered. Three years ago, a purchase of a building was incorrectly expensed. The effect is understated retained earnings of $32,000 (net of tax benefit). - Paid cash dividends of $53,000. Calculate the retained earnings balance at December 31, 2019. (Amounts to be deducted should be indicated with a minus sign.)