Wrigley Company had the following errors over the last two years:

2011:	Ending inventory was overstated by $34,500 while depreciation expense was overstated by $25,700
2012:	Ending inventory was understated by $12,500 while depreciation expense was understated by $5,800.

By how much should retained earnings be adjusted on January 1, 2013? (Ignore taxes)