Preparing a Statement of Stockholders' Equity with a Prior Period Error company discovered that its first year depreciation expense was understated by $16,000 before taxes and the amount is material to the company. Assume a tax rate of 25%. Required a. Prepare a statement of stockholders' equity for Sprint Co. for the current year ended December 31. - Use negative signs to indicate a debit balance or a decrease to stockholders' equity. b. Prepare a separate statement of retained earnings for the current year ended December 31. - Use negative signs to indicate a debit balance or a decrease to stockholders' equity