In the first year of operations for Sprint Co$.,$ the company reported net income of $$81,000$ and declared and paid dividends of $$25,200.$ No other items affected retained earnings during its first year. On December $31,$ the company had the following balances in stockholders' equity accounts $($other than retained earnings$)$: common stock, $$180,000$ credit balance; accumulated other comprehensive income, $$9,000$ debit balance. During the following year, the company reported net income of $$158,400,$ declared and paid dividends of $$36,000,$ and reported a foreign currency translation gain of $$15,300($after tax$).$ In addition, the company discovered that its first year depreciation expense was understated by $$18,000$ before taxes and the amount is material to the company. Assume a tax rate of $25\%.$