View Policies Current Attempt in Progress O 01:33:58 Hide Timer Wildhorse Corporation has retained earnings of $677,100 at January 1, 2020. Net income during 2020 was $1.511.100, and cash dividends declared and paid during 2020 totaled $81,600. Prepare a retained earnings statement for the year ended December 31, 2020. Assume an error was discovered: land costing $87 330inet of tax) was charged to maintenance and repairs expense in 2019. (List items that increase retained earnings first.) WILDHORSE CORPORATION Retained Earnings Statement Retained Earnings January 1, as Reported 677.100 Correction for Overstatement of Expenses in Prior Period 87,330 Retained Earnings, January 1, as Adjusted Add :: Net Income /(Loss) Less : Cash Dividends Retained Earning December 31 Attempts: 0 of 1 used