Skysong Corporation has retained earnings of $$691,300$ at January $1,2025.$ Net income during $2025$ was $$1,552,100,$ and

cash dividends declared and paid during $2025$ totaled $$82,000.$ Prepare a retained earnings statement for the year ended

December $31,2025.$ Assume an error was discovered: land costing $$88,390($net of tax$)$ was charged to maintenance and

repairs expense in $2024.($List items that increase retained earnings first.$)$

SKYSONG CORPORATION

Retained Earnings Statement

December $31,2025$

Retained Earnings, January $1,$ as Adjusted

: Correction for Overstatement of Expenses in Prior Period