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Vaughn Corporation has retained earnings of $702,500 at January 1,2025. Net income during 2025 was $1,426,500, and cash dividends declared and poid during: 2025 totaled

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Vaughn Corporation has retained earnings of $702,500 at January 1,2025. Net income during 2025 was $1,426,500, and cash dividends declared and poid during: 2025 totaled $83,200. Prepare a recained earningsstatement for the year ended December 31. 2025. Assume an error was discovered land costing $89,590 inet of tax/ was charged to maintenance and repairs expense in 2024

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