11. Moorman Corporation reports the following information: Correction of understatement of depreciation expense in prior years, net of tax Dividends declared Net income Retained eamings, 1/1/21, as reported Moorman should report retained eamings at 12/31/21 at a. $4,710,000 $705,000 960,000 3,000,000 6,000,000 b. $6,750,000 C. $8,040,000 d. $9,330,000 12. Madsen Company reported the following information for 2021: Sales revenue Cost of goods sold I Operating expenses $2,040,000 1,400,000 220,000 Unrealized holding gain on available-for-sale debt securities 120,000 Cash dividends received on the securities For 2021, Madsen would report other comprehensive income of 8,000 a. $428,000 b. $420,000 c. $128,000 d. $120,000