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2. Quintin Inc. has retained earnings of $375,000 at January 1, 2025. During 2025: - Quintin reported net income of $1,700,000 - Cash dividends declared

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2. Quintin Inc. has retained earnings of $375,000 at January 1, 2025. During 2025: - Quintin reported net income of $1,700,000 - Cash dividends declared and paid totaled $85,000 - An error was discovered: land costing $80,000 (net of tax) was charged to maintenance and repairs expense in 2024. Instructions: Prepare a retained earnings statement for the year ended December 31,2025. Quintin, Inc Statement of Retained Earnings For the Year Ended December 31, 2025

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