In $2025,$ Ivanhoe Company discovered an error while preparing its $2025$ financial statements. A building constructed at the beginning

of $2024$ costing $$1239900$ has not been depreciated. The estimated useful life of the building is $30$ years with no salvage value.

Straight$-$line depreciation is used. Ivanhoe properly included depreciation on its tax return also using straight$-$line depreciation.

Income tax payable was also reported correctly at a tax rate of $20\%.$ Income before depreciation expense in $2025$ was $$340000.$ If

single$-$period statements are prepared, how would the prior period adjustment be reported?

As $$41330$ of other income in $2025$

A $$33064$ adjustment to the beginning balance on the Retained Earnings Statement

A restatement of $$33064$ to the $2024$ Income Statement

A restatement of $$41330$ to the $2025$ Balance Sheet