In 20X6, Dalia Corp., a calendar fiscal-year company, discovered that depreciation expense was erroneously overstated $81,000 in both 20X4 and 20x5 for financial reporting purposes. Net income in 20x6 is correct. The tax rate is 35%. The error was made only for financial reporting. affecting depreciation and deferred income tax accounts. CCA had been recorded correctly, and thus there will be no change in taxes payable. Additional information: Beginning retained earnings Earnings (includes error in 20x5) Dividends declared 20X8 20X5 $450,000 $427,600 84,800 95,100 61,800 72.700 Required: 1. Record the entry in 20X8 to correct the error. (If no entry is required for a transactionlevent, select "No journal entry required in the first account field.) View transaction llat Journal entry worksheet Record the entry for 20x5 to correct the error. Note: Enter debits before credits. Date General Journal Debit Credit 20X8 Record entry Clear entry View general Journal 2. Prepare the comparative retained earnings section of the statement of changes in shareholders' equity for 20X5, reflecting the change. 2 0x5 DALIA CORPORATION Retained Earnings Statement For the Year Ended 31 December 20x6 Beginning retained earnings, as previously reported Error correction, depreciation, net and tax. Beginning balance restated $ Earnings (restated for 20X5) Dividends declared Ending balance $ 0 $ 0 0 5 0