2.Newland Company reported retained earnings at December 31, 2018, of $350,000. The following transactions occurred during 2019. An error was discovered. In 2017, depreciation expense was recorded at $45,000, but the correct amount was $25,000. Declared cash dividends $100,000. Declared stock dividends $70,000. Net income was $450,000. From the given information, choose the correct answer. c- The amount of retained earning reported in Dec 31, 2019 is: a. $955,000 b. $470,000 c. $905,000