Current Attempt in Progress Presented below are the comparative income and retained earnings statements for Blue Inc. for the years 2017 and 2018. Sales Cost of Sales Gross Profit Expens e-s Net Income Retained Earnings (Jan. I) Net Income Dividends Retained Earnings (Dec 31) 2018 3193.000 73,000 120.000 62.000 358.000 S144.ooo 58,000 (26,000 3176.000 3189.000 68.000 121.000 "1.000 3103.000 61,000 (20,000 3144.000 I. 2. In 2018. Blue Inc. decided to switch its depreciation method from double-declining balance to the straight-line method. The depreciable assets were purchased at the beginning of 2017 for SS 1,000 with an estimated useful life of 5 years and no salvage value. The 2018 income statement above contains depreciation expense of S 12240 on these assets. In 2018, the company discovered that the ending inventory for 2017 was understated by $8,300: ending inventory for 2018 is correctly stated. Prepare the revised retained earnings statement for 2017 and 2018, assuming comparative statements. BLUE Staternt For the Yea r Ended 2018 2017 Retained Earnings. Januar," I. Unadjusted Cor rection of Error for Inventory Unurstatement Retained Earnings. Januaty I. Adjusted Net Inco me / (Loss) Retained Earnings. December 31 eTextbook and Media Save for Later Last saved I seco nd ago. Attempts: unlimited