At January 1, 2020, Sweet Company reported retained earnings of $1,801,000. In 2020, Sweet 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 Sweet Company. SWEET COMPANY Retained Earnings Statement eTextbook and Media $