Question 4 ABC Company's December 31,2018 , reported retained earnings of P250,000. Net income Not yet answered for 2018 was P95,000 and dividends of P70,000 were declared and paid in 2018 . The Marked out of 2.00 accountant discovered that net income for 2017 had been understated by P25,000 due to an error in recording depreciation expense for 2017. Required: The amount of retained earnings per books as of December 31, 2017 was