In 20X6, Dalia Corp., a calendar fiscal-year company, discovered that depreciation expense was erroneously overstated $57,000 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: 2005 Beginning retained earnings Earnings (includes error in 20x5) Dividends declared 20x6 $444,000 83,400 61,000 $422,000 93,700 71,700 Required: 1. Record the entry in 20x6 to correct the error. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Required: 1. Record the entry in 20X6 to correct the error. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the entry for 20x6 to correct the erron Note: Enter debits before credits Debit General Journal Date Credit 20X6 2. Prepare the comparative retained earnings section of the statement of changes in shareholders' equity for 20X5, reflecting the change. 20X5 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