Comedogen/studentmann WiePLUSE WYPUS I Hale Contact Us Lee Kieso, Intermediate Accounting, 17e INTERMEDIATE ACCT 1 and 2 (ACCT 205/ tice Assignment Gradebook ORION Downloadable eTextbook 11:50 PM / Remaining 52 CALCULATOR FULL SCREEN PRINTER VERSION 4 IMACK Practice Exercise 4-04 Marigold Corp. began operations in 2014. During the years 2014-2016, it reported net income and declared dividends as follows. Net income Dividends declared 2014 $27,000 $-0- 2015 121,000 2016 226,000 56,000 During 2017, Marigold Corp.: discovered that it had failed, in 2015, to record $30,000 in depreciation on equipment in one of its warehouses. changed, on January 1, 2017, from the average cost to the FIFO method of accounting for its inventory. If Marigold Corp. had applied the FIFO method to it inventory in prior years, cumulative het income (before tax) would have been $17,000 lower than originally reported. reported income before income tax expense of $600,000. declared and paid dividends to common shareholders of $78,000 Marigold's effective income tax rate for all years was 40% Prepare a 2017 retained earnings statement for Marigold Corp. (List items that increase retained earnings first.) MARIGOLD CORPORATION Retained Earnings Statement For the Year Ended December 31, 2017 Retained Earnings, January 1, as Reported Correction for Denreciation F earch 12:58 AM 7/21/2001 o 42 gnment net 11:50 PM / Remaining: 52 min CALCULATOR INRUULULUI Retained Earnings Statement For the Year Ended December 31, 2017 Retained Earnings, January 1, as Reported Correction for Depreciation Error Cumulative Decrease in Income from Change in Inventory Methods Retained Earnings, January 1, as Adjusted v Add Net Income / (Loss) Less Dividends Declared Retained Earnings, December 31 Assume Marigold Corp. restricted retained earnings in the amount of $59,000 on December 31, 2017. How would Marigold Corp. pres 2017 balance sheet? Total retained earnings ick if you would like to show Work for this question: Qren Show Work o search a 42