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Prepare a statement of retained earnings for Amos Company

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Question - Preparing a statement of retained earnings with prior period adjustment - The following information is from Amos Company for the current year ended December 31.

a. Retained earnings at December 31 of the prior year(before discovery of an error) was $854,000.

b. Amos discovered this year that it forgot to record depreciation expense of $54,600 (net of tax benefit) two years ago.

c. Cash dividends declared and paid in the current year were $28,000.

d. Reported $216,000 of net income in the current year.

Prepare a statement of retained earnings for Amos Company for the current year.

Reference no: EM133064575

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