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need help pleases? At January 1,2025, Teal Company reported retained earnings of $2,020,000.In2025, Teal discovered that 2024 depreciation expense was understated by $404,000. In 2025
need help pleases?
At January 1,2025, Teal Company reported retained earnings of $2,020,000.In2025, Teal discovered that 2024 depreciation expense was understated by $404,000. In 2025 , net income was $932,000 and dividends declared were $258,000. The tax rate is 20%. Prepare a 2025 retained earnings statement for Teal Company. At January 1,2025, Teal Company reported retained eamings of $2,020,000. In 2025 , Teal discovered that 2024 depreciation expense was understated by $404,000. In 2025 , net income was $932,000 and dividends declared were $258,000. The tax rate is 20%. Prepare a 2025 retained earnings statement for Teal Company. At January 1,2025 , Teal Company reported retained earnings of $2,020,000. In 2025 , Teal discovered that 2024 depreciation expense was understated by $404,000. In 2025 , net income was $932,000 and dividends declared were $258,000. The tax rate is 20%. Prepare a 2025 retained earnings statement for Teal Company
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![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/668fe5ff085b8_558668fe5fe9be51.jpg)
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