Leonard Corporation reports the following information:

Correction of overstatement of depreciation expense

in prior years, net of tax

$ 645,000

Dividends declared	480,000
Net income	1,500,000
Retained earnings, 1/1/17, as reported	6,000,000

Leonard should report retained earnings, 1/1/17, as adjusted at

Group of answer choices

$5,355,000.

$6,000,000.

$6,645,000.

$7,665,000.