Brief Exercise 22-7 At January 1, 2014, Beidler Company reported retained earnings of $1,959,300. In 2014, Beidler discovered that 2013 depreciation expense was understated by $393,500. In 2014, net income was $925,500 and dividends declared were $204,710. The tax rate is 36%. Prepare a 2014 retained earnings statement for Beidler Company.