Ottoman Corporation reports the following information: Correction of understatement of depreciation expense in prior years, net of tax $ 1,250,000 Dividends declared 950,000 Net income 3,000,000 Retained earnings, 1/1/19, as reported 7,000,000 Moorman should report retained earnings, 1/1/19, as adjusted at Select one: a. $7,800,000 b. $9,050,000 c. $8,750,000 d. $5,750,000