Business, 25.03.2020 01:59 Tracic1972

At January 1, 2017, Crane Company reported retained earnings of $2,190,000. In 2017, Crane discovered that 2016 depreciation expense was understated by $382,000. In 2017, net income was $929,000 and dividends declared were $226,000. The tax rate is 35%. Prepare a 2017 retained earnings statement for Crane Company.

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At January 1, 2017, Crane Company reported retained earnings of $2,190,000. In 2017, Crane discovere...