Presented below is information which relates to Cullumber Ltd., a Canadian private company. Net loss Retained earnings, January 1, 2020 Cash dividends declared on common shares Understatement of net income resulting from 2019 inventory error (pre-tax) $136,000 340,000 46,000 78,000 Prepare in good form, a statement of retained earnings for the year ended December 31, 2020. The tax rate is 30%. (List items that increase retained earnings first.) Cullumber Ltd. Statement of Retained Earnings $