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Ellie May Bakery, Inc. reported a prior-period adjustment in 2024. An accounting error caused net income of prior years to be overstated by $2,000. Retained

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Ellie May Bakery, Inc. reported a prior-period adjustment in 2024. An accounting error caused net income of prior years to be overstated by $2,000. Retained Earnings at December 31,2023 , as previously reported, was $42,000. Net income for 2024 was $76,000, and dividends declared were $22,000. Prepare the company's statement of retained earnings for the year ended December 31 , 2024

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