C Co. reported a retained earnings balance of $340,000 at December 31, 2020. In September 2021, C determined that insurance premiums of $60,000 for the three-year period beginning January 1, 2020, had been paid and fully expensed in 2020. C has a 30% income tax rate. What amount should C report as adjusted beginning retained earnings in its 2021 statement of retained earnings
