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What sunland should report retained earnings at

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Reference no: EM132918687

Sunland Company reports the following information:

Correction of overstatement of depreciation expense in prior years, net of tax $ 650000

Dividends declared 474000

Net income 1498000

Retained earnings, 1/1/20, as reported 6170000

Problem 1: Sunland should report retained earnings, 12/31/20, at

Option 1: $6544000.

Option 2: $5520000.

Option 3: $7194000.

Option 4: $7844000.

Reference no: EM132918687

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