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Moorman Corporation reports the following information: Correction of overstatement of depreciation expense in prior years, net of tax $ 430,000 Dividends declared 320,000 Net income

Moorman Corporation reports the following information:

Correction of overstatement of depreciation expense

in prior years, net of tax $ 430,000

Dividends declared 320,000

Net income 1,000,000

Retained earnings, 1/1/10, as reported 2,000,000

Moorman should report retained earnings, 31/12/10, as adjusted at

Select one:

a.

$2,250,000

b.

$3,110,000

c.

$1,820,000

d.

$3,430,000

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