Olivia Company began 2019 with a Retained Earings account balance of $180,000. During 2019, the following 8 events occurred and were properly recorded by the company: 1. Bonds payable with a face value of $100,000 were issued on Januauary 1 at 98. The bonds mature in 10 years. The bond provisions require the restriction of retained earnings ( by means of a note to the financial statements) equal to one-half the face value of the bonds during the period the bonds are outstanding. 2. On April 13, Olivia reissued 2,400 shares of treasury stock for $25 per share. The company had reacqired these shares in 2017 at a cost of $20 per share. At that time, it had restricted retained earnings (by means of a note to the financial statements) in an amountt equal to the cost of the treasury shares 3. On January 5, Olivia recalled and retired 800 shares of $100 par preferred stock at the call price of $120 per share. The stock had originally been issued for $108 per share. 4. During June, Olivia declared and issued a 2-for-1 stock split on its common stock, reducing the par value from $10 to $5 per share. Immediately prior to the split, 10,000 shares of common stock were outstanding. The stock market price on the date of the split was $25 per share. 5. In August, Olivia declared and issued a 15% stock dividend when the common stock was selling at $13 per share. 6. During December, Olivia declared and paid its annual $1.30 per share cash dividend On the outstanding common stock. 7. Net income an counted to $72,000. 8. During the year-end audit, it was found that in 2018, Olivia had recorded depreciation on a particular machine twice. The error resulted in a $13,000 overstatement of depreciation during 2018. It was also found that, due to an oversight, a $10,000 loss On1 the sale of land was omitted from the 2018 income statement. Both items are material. The company has been subject to a 30% income tax rate for several years. Prepare Olivia’s statement of retained earnings and any related notes to its finaincial statements for the year·ended December 31, 2019.