Tuscan Incorporated had a retained earnings balance of $90,000 at December 31 of the prior year. In the current year, Tuscan reported the following results. Reported net income of $130,000. Cash dividends of $63,000 declared and paid. Tuscan discovered this year that it made a math error three years ago; to correct for this, $42,000 (net of tax) must be added to the current years beginning retained earnings balance. Revised an estimate of a machines salvage value. Depreciation increased by $4,000 per year. Calculate the retained earnings balance at December 31 of the current year