Selected information regarding the accounts of Mini Corporation follows: On January $1,2022,$ Mini Corp. incurred repair expenses of $$40,000.$ The bookkeeper erroneously recorded this expense as a debit to equipment and proceeded to record yearly straight$-$line depreciation. The assumed salvage value was SO and the estimated useful life was ten years. You are the new accountant for this business and you are in the process of preparing the $2023$ financial statements when you notice that the $$40,000$ expenditure was recorded incorrectly and that depreciation had been recorded last year. This error is discovered prior to the recording of depreciation in $2023.$ The tax rate is $40\%.$ The unadjusted balance in retained earnings at January $1,2023$ was $$375,000.$ The company had a net income after tax of $$30,000$ and paid dividends of $$18750$ during $2023.$ Required: a$)$ Calculate the earnings correction that Mini must show in the $2023$ financial statements $6)$ Prepare the $2023$ entry to record the correction of the $2022$ error.