Martinez corporation began operations on January 1, 2014. During it's 3 years of operations, Martinez reported net income and declared dividends as follows:

Exercise 4-12 Martinez Corporation began operations on January 1, 2014. During its first 3 years of operations, Martinez reported net income and declared dividends as follows: Net income Dividends declared 2014 343,300 $-0- 2015 126,900 58,000 2016 161,500 55.000 The following information relates to 2017 Income before Income tax Prior period adjustments understatement of 2015 depreciation expense before taxes) Cumulative decrease in income from change in Inventory methods before taxes) Dividends dedared (of this amount, $26,700 will be paid on January 15, 2016) Effective tax rate $230,700 $26,700 $45,000 $113,800 40 Your owwer partially correct. Try again Prepara 2017 retined warnings Matement for Martinez Corporation (that lets that increasedusted retained earnings ist.) MARTINEZ CORPORATION Retained Earnings Statement for the manded December 31, 2017 Prepare a 2017 retained earnings statement for Martinez Corporation. (List items that increase adjusted retained e MARTINEZ CORPORATION Retained Earnings Statement For the Year Ended December 31, 2017 Retained Earnings, January 1, as Reported 217900 x Correction for Depreciation Error 16020 x Cumulative Decrease in Income from Change in Inventory Methods 27000 Retained Earnings, January 1, as Adjusted 174880 Add Net Income / (Loss) 138420 Less Dividends Declared 113800 Retained Earnings, December 31 199500 Your answer is incorrect. Try again Assume Martinez Corporation restricted retained emines in the 163,010 December 1, 2017. Mwisho, what artist what the Total ruined earnings Click if you would like to show Work for this question on how