Continuing with the information presented in #1 above, Pitchfork has Income from Continuing Operations (ICO) of $1,700,000 and a corporate tax rate of 30%. Determine if ICO should be adjusted based on the following information: 4. On April 1, 2019 Sparky paid $24,000 for two years rent on office space and at the time debited Rent Expense. No adjusting or correcting entries were made for this transaction in 2019 or 2020. a. To correct I.C.O for 2020, the correct Rent Expense (after tax) would be: $ (8400) If you want to increase I.C.O, enter your answer as a positive number. If you want to decrease I.C.O., enter your answer as a negative number using () parenthesis. b. Determine the amount of the Prior Period Adjustment to be reported on the Retained Earnings Statement to correct the Beginning Balance at Jan 1, 2020: 2100 If you want to increase the Beg. Bal of R.E., enter your answer as a positive number. If you want to decrease the Beg Bal., enter your answer as a negative number using ( parenthesis