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At January 1,2025, Vaughn Company reported retained earnings of $2,180,000. In 2025, Vaughn discovered that 2024 depreciation expense was understated by $436,000, in 2025 ,

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At January 1,2025, Vaughn Company reported retained earnings of $2,180,000. In 2025, Vaughn discovered that 2024 depreciation expense was understated by $436,000, in 2025 , net income was $846,000 and dividends declared were $223,000. The tax rate is 20%. Prepare a 2025 retained earnings statement for Vaughn Company

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