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At January 1, 2025, Shamrock Company reported retained earnings of $2,026,000. In 2025, Shamrock discovered that 2024 depreciation expense was understated by $405,200. In

At January 1, 2025, Shamrock Company reported retained earnings of $2,026,000. In 2025, Shamrock discovered that 2024 depreciation expense was understated by $405,200. In 2025, net income was $985,000and dividends declared were $225,000. The tax rate is 20%. Prepare a 2025 retained earnings statement for Shamrock Company. SHAMROCK COMPANY Retained Earnings Statement > LA $

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