Business, 07.05.2021 16:00 microwave13016

Leonard Corporation reports the following information: Correction of understatement of depreciation expense in prior years, net of tax $ 175,000
Dividends declared 160,000
Net income 500,000
Retained earnings, 1/1/15, as reported 2,000,000
Leonard should report retained earnings, 12/31/15, at
a. $1,785,000.
b. $2,165,000.
c. $2,515,000.
d. None of the above

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