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how much will the retained earnings bakance go down?

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included payments of accounts payable in the amount of ceived at December 31 but for which no purchase invoices received on consignment; the remainder was purchased , 350 were entered in the sales journal as of December 31, er were cash sales. tered as of December 31,2025 , totaled $37,480. Of this of 2% had been deducted; the remainder represented the State the net effect of your adjustments on M \begin{tabular}{lr} Accounts payable & $64,090 \\ Notes payable & 66,410 \\ \hline$130,500 \\ \hline \end{tabular} The following errors in the corporation's accounting have been discovered: 1. January 2026 cash disbursements entered as of December 2025 included payn $43,400, on which a cash discount of 2% was taken. 2. The inventory included $30,790 of merchandise that had been received at Dece had been received or entered. Of this amount, $10,860 had been received on co f.o.b. destination, terms 2/10,n/30. 3. Sales for the first four days in January 2026 in the amount of $29,350 were ente 2025. Of these, $21,600 were sales on account and the remainder were cash salk 4. Cash, not including cash sales, collected in January 2026 and entered as of Decer amount, $25,480 was received on account after cash discounts of 2% had beend proceeds of a bank loan. Marigold Company Balance Sheet (Partial) December 31, 2025 Cash $42,800 Accounts receivable Less: Allowance for doubtful accounts Inventory Prepaid expenses $98,100 \begin{tabular}{rr} 8,530 & 89,570 \\ 157,330 \\ 8,110 \\ \hline$297,810 \\ \hline \hline \end{tabular}

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