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Wildhorse Co. reports the following information: Correction of understatement of depreciation expense in prior years, net of tax Dividends declared Net income Retained earnings, 1/1/20,

Wildhorse Co. reports the following information: Correction of understatement of depreciation expense in prior years, net of tax Dividends declared Net income Retained earnings, 1/1/20, as reported $ 1296000 965000 2920000 5800000 Wildhorse should report retained earnings, 1/1/20, as adjusted at $5800000. $7096000. $9051000. $4504000

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