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Sleepy Company has retained earnings for $187467 at January 1, 2014. They discovered an error in the 2013 financial statements. Salary expense was mistakenly reported

Sleepy Company has retained earnings for $187467 at January 1, 2014. They discovered an error in the 2013 financial statements. Salary expense was mistakenly reported at $29429 higher than it should have been. The company had a 30% tax rate. What is adjusted retained earnings at January 1, 2014 after accounting for the correction?

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