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The following information is from Amos Company for the current year ended December 31.
- Retained earnings at December 31 of the prior year (before discovery of an error) was $865,000.
- Amos discovered this year that it forgot to record depreciation expense of $38,600 (net of tax benefit) two years ago.
- Cash dividends declared and paid in the current year were $14,000.
- Reported $205,000 of net income in the current year.
Prepare a statement of retained earnings for Amos Company for the current year.
Note: Amounts to be deducted should be indicated with a minus sign.
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