In late 2020, Confused Corporation identified the following errors that were made and reflected on its 2019 income statement and other financial statements. This combination of errors is material. a) $5 million in revenue was recorded during 2019 that was not earned as of 12/31/2019. In fact, as of late 2020, this $5 million has still not been earned. b) Confused failed to record 2019 depreciation expense of $3 million. Other information for Confused: an income tax rate of 0%; 2020 net income of $10 million; $1 million in dividends declared and paid during 2020; and $20 million of retained earnings originally reported on its 12/31/2019 balance sheet. REQUIREMENTS 1. Assume you are now an employee of Confused. Prepare appropriate journal entries to correct these errors that you discovered in late 2020. 2. Prepare a schedule reconciling Confused 12/31/2019 retained earnings as originally reported to the amount that should be reported on its 12/31/2020 balance sheet.