Accounting

11. Moorman Corporation reports the following information: Correction of understatement of depreciation expense in prior years, net of tax $ 430,000; Dividends declared in year 2015 was $320,000; Net income for year 2015 was $100,000; Retained earnings on 1/1/2015, as reported $2,500,000 Moorman should report retained earnings on 31/12/2015 as follows: (2 Points) 0 $2,750,000 0 $3,010,000. 0 $2,070,000 0 $2,710,000