The following information is available for Cranecorporation:

Retained earnings December $31,2023,$$$1,512,000$

Profit fortheyearended December $31,2024,257,000$

The company accountant, in preparing financial statements for the yearended December $31,2024,$ has discovered the following

information:

The company's previous bookkeper had reconded an excess of depreciation expenseon a machine in $2022$ and $2023$ by using the

doublediminishing$-$balance met hod of depreciation. The bookeeper neglected to use thestraight$-$line met hod of depreciation,

which is the company's policy Thecumulative effect of the erroron prioryears was $$9,600.$ Depreciation wascalculated by the

straight$-$line method in $2024.$ Crane's average tax rate is $22\%.$ During $2024,$ Cranedeclared and paid cash dividends of $$85,300.$

Calculate the impact on retained earnings

Retained earnings $

Quetion Part $5$core

CRANE CORPORATION

Statement of Retained Earnings