Due to an error in computing depreciation expense, Crote Corporation understated accumulated depreciation by $60 million as of December 31, 2018. Crote has a tax rate of 40%. Crote's retained earnings as of December 31, 2018, would be: Multiple Choice Understated by $24 million. Overstated by $24 million.

Eon inc., electravia inc., and fc inc., the three largest firms in the consumer electronics industry, hold close to 85 percent of the industry's market share. these companies mainly compete against each other by providing unique features in their products rather than pricing them low. these firms are interdependent, and each firm must consider the strategic actions of its competitors. which of the following industry competitive structures does this scenario best illustrate? monopolistic competition oligopoly monopoly perfect competition