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Rachei May Bakery. Inc. reported a priot.period adjulthent in 2024. An accounting erroc caused net income of priof years to be overstated by $2.000. Retained

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Rachei May Bakery. Inc. reported a priot.period adjulthent in 2024. An accounting erroc caused net income of priof years to be overstated by $2.000. Retained Earnings at Decerrber 31, 2023. as previgusly reported, was $47,000. Net income for 2024 was $71,000, and dividends declared wece $30,000. Prepare the compaty's statement of retaned namings for the year anded Decerrber 31 , 2024

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