Fowler Corporation decided to switch from the Average Cost method of costing inventories to the FIFO method at the beginning of 2021. The inventory as reported at the end of 2020 using Average Cost would have been $59,560 higher using FIFO, Retained earnings at the end of 2020 was reported as $177,890 (reflecting the Average Cost method). The tax rate is 25%. The balance in retained earnings at the time of the change (beginning of 2021) as it would have been reported if FIFO cost had been used in prior years would be $