Question 22 Use the following information Net income $100,000 Prior period adjustment (error), understatement of salary expense, (before taxes) $10,000 Cumulative decrease in income from change in inventory method, (before taxes) $5,000 Dividends declared and paid $2,000 Retained earnings, 1/1/15, as reported 10,000 Income Tax rate 20% The company should report retained earnings, December 31, 2015, of A. 123,000 B. 120,000 C. 96,000 D. 93,000