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At January 1, 2025, Sarasota Company reported retained earnings of $2,172,000. In 2025, Sarasota discovered that 2024 depreciation expense was understated by $434,400. In 2025

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At January 1, 2025, Sarasota Company reported retained earnings of $2,172,000. In 2025, Sarasota discovered that 2024 depreciation expense was understated by $434,400. In 2025 , net income was $898,000 and dividends declared were $202,000. The tax rate is 20% Prepare a 2025 retained earnings statement for Sarasota Company. SARASOTA COMPANY Retained Earnings Statement

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