$($b$)$

Assume Metlock Corporation restricted retained earnings in the amount of $$68,600$ on December $31,2025.$ After this action,

what would Metlock report as total retained earnings in its December $31,2025,$ balance sheet?

Question $7$ of $10$

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Curnent Attempt in Progress

Metlock Corporation begganoperations on January $1,2022.$ Buring its frst $3$ yeassof operthighs, Methoch reperted net income and

dedared dividende as follows.

The followine information meltes to exo$2$s$.$

Income before income tax

$eas,$200$

Prior period adjestment understatement of $2923$ depreciatibn expense thefore taxes$)$

$24\mathrm{.}500$

Dividetrideclarnd lat this anpurt, $$24,$ s$00$ will be pald me lin $15,2020)$

$98000$

Eftective tax rite

$($a$)$

Kowriationer is cantert

Attempts: $2$ of $3$ used

$($b$)$

Assume Metlock Corporation restricted retained earnings in the amount of $$68\mathrm{.}600$ on December $31\mathrm{.}2025.$ After this action.

what would Metlock report as total retained earnings in its December $31,2025,$ balance sheet?

Total retainedearnines $

Question $7$ of $10$

Vewpoliclet

Show Attempt ilistory

Curnent Attempt in Progress

Metlock Corporation begganoperations on January $1,2022.$ Buring its frst $3$ yeassof operthighs, Methoch reperted net income and

dedared dividende as follows.

The followine information meltes to exo$2$s$.$

Income before income tax

$eas,$200$

Prior period adjestment understatement of $2923$ depreciatibn expense thefore taxes$)$

$24\mathrm{.}500$

Dividetrideclarnd lat this anpurt, $$24,$ s$00$ will be pald me lin $15,2020)$

$98000$

Eftective tax rite

$($a$)$

Kowriationer is cantert

Attempts: $2$ of $3$ used

$($b$)$

Assume Metlock Corporation restricted retained earnings in the amount of $$68\mathrm{.}600$ on December $31\mathrm{.}2025.$ After this action.

what would Metlock report as total retained earnings in its December $31,2025,$ balance sheet?

Total retainedearnines $

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Current Attempt in Progress

Metlock Corporation began operations on January $12022.$ During its first $3$ years of operations, Metlock reported net income and

declared dividends as follows

The following information relates to $2025.$

Income before income tax

$$235,200$

Prior period adjustment understatement of $2023$ depreciation expense $($before taxes$)$

$24,500$

Dividends declared of this amount, $$24,500$ will be paid on Jan $15,2026)$

$98,000$

Effective tax rate

$20\%$

$($a$)$

Youranswer cortect

Prepare a $2025$ retained eamings statement for Metlock Corporation. $($list items that increase adjusted retained earnings first.$)$

$($b$)$

Your answer is incorroct.

Assume Metiock Corparation restricted retained earnings in the amount of $$68,600$ on December $31,2025,$ After this action.

what would Metlock report as total retained earnings in its December $34,2025,$ balance sheet?