Current Attempt in Progress At January 1, 2025, Pronghorn Company reported retained earnings of $2,026,000. In 2025, Pronghorn discovered that 2024 depreciation expense was understated by $405,200. In 2025, net income was $833,000 and dividends declared were $296,000. The tax rate is 20%. Prepare a 2025 retained earnings statement for Pronghorn Company. PRONGHORN COMPANY Retained Earnings Statement For the Year Ended December 31, 2025 Retained Earnings, December 31 V $ 4

At January 1, 2025, Pronghorn Company reported retained earnings of $2,026,000. In 2025, Pronghorn discovered that 2024 depreciation expense was understated by $405,200. In 2025 , net income was $833,000 and dividends declared were $296,000, The tax rate is 20%. Prepare a 2025 retained earnings statement for Pronghorn Company