Preparing a Statement of Stockholders' Equity with a Prior Period Error In addition, the company discovered that its first year depreciation expense was understated by $28,000 before taxes and the amount is material to the company. Assume a tax rate of 25%6. 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 silgns 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