Please show and explain all calculations

9. During an audit of Madison Company's December 31, 2017 records it was discovered that the company did not accurately accrue for $12,500 of depreciation expense. As well as the accrual for interest expense was missed in the amount $4,500. These errors occurred in 2016 and have a material impact on Madison's financial records. Madison's net income for the year was $123,000. The company is subject to a 35% tax rate. The company had a retained earnings balance of $557,500 on January 1, 2017, no dividends were paid. Required: 1) Prepare the necessary journal entries to correct the accounting records of Madison Company's books. 2) Prepare the statement of retained earnings for 2017. (Headings are not necessary)