Please do B

Sheffield Corp. began operations in 2014. During the years 2014-2016, it reported net income and dedlared dividends as follows. $20,000 130,000 228,000 51,000 Durting 2017, Shefield Corp.: e dscovered that it had tailed, in 2015, to recond $38,000 in depreciation on equipment in one of its warehouses beged en Jar ery 1 2017 from thew age cost to the Firo method ofaccounting n ts m etery. If Shemeid dorp had appl ed the nro mee od to n eno in p Oryens ar nat ve net e me (before tax) d have been $20,000 lower than orginally reported reported income before income tax expense of S560,00. Shehidh effective income tax rate for all years was 40%. Your answer corect. Prepare a 2017 retained eemings statement for Sheffield Corp. (ist tems that increase retained earnings first Attempts 4 of 15 us Your answer a incorect. Ty again. Assume Sheered Corp. resereted retained tamng.n the-ho t d.se ooo en Decembe 31, 2017. Howould Shemel Cop pelet retaihed eermngi o, as Decembe it, aet, beure able