In 2022, Draper Company discovered errors made in 2019-2021, its first three years of operation.

2021

2020

2019

Items not recognized:

Prepaid expenses

$1,300

$900

$550

Accrued expenses

950

700

800

Other information:

Reported net income

$23,000

$25,000

$20,000

Dividends declared and paid

4,100

2,600

5,000

Common stock and additional paid in capital at 12/31

22,000

17,000

15,000

Restated 2021 Net Incomewill be:

Select one:

a.$22,800

b.$23,350

c.$22,350

d.$23,150

e.$23,550