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At January 1, 2020, Bonita Company reported retained earnings of $1,801,000. In 2020, Bonita discovered that 2019 depreciation expense was understated by $360.200. In 2020

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At January 1, 2020, Bonita Company reported retained earnings of $1,801,000. In 2020, Bonita discovered that 2019 depreciation expense was understated by $360.200. In 2020 , net income was $815,000 and dividends declared were $275,000. The tax rate is 20%. Prepare a 2020 retained earnings statement for Bonita Company

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