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Question Content Area Dayton Corporation began the current year with a retained earnings balance...

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Accounting

Question Content Area
Dayton Corporation began the current year with a retained earnings balance of $12,534. During the year, the company corrected an error made in the prior year, which was a failure to record depreciation expense of $2,660 on a piece of equipment. Also, during the current year, the company earned net income of $13,472 and declared cash dividends of $6,356. Compute the year-end retained earnings balance.
a. $19,650
b. $35,022
c. $16,990
d. $12,534

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