Sage Corporation has retained earnings of $708,900 at January 1, 2017. Net income during 2017 was $1,663,000, and cash dividends declared and paid during 2017 totaled $77,800. Prepare a retained earnings statement for the year ended December 31, 2017. Assume an error was discovered: land costing $89,470 (net of tax) was charged to maintenance and repairs expense in 2014. (List items that increase retained earnings first.)