dividends declared were $287,000. The tax rate is 20%. Prepare a 2025 retained earnings statement for Kingbird Company

Current Attempt in Progress At January 1, 2025, Kingbird Company reported retained earnings of $2,096,000. In 2025, Kingbird discovered that 2024 depreciation expense was understated by $419,200. In 2025, net income was $901,000 and dividends declared were $287,000. The tax rate is 20%. Prepare a 2025 retained earnings statement for Kingbird Company. KINGBIRD COMPANY Retained Earnings Statement eTextbook and Media Save for Later Attempts: O of 1 used Submit Answer