Question: Hi please help I was able to create the multiple step income statement but my numbers were off when I got to the retained earnings

Hi please help I was able to create the multiple step incomestatement but my numbers were off when I got to the retainedHi please help I was able to create the multiple step income statement but my numbers were off when I got to the retained earnings statement.

Prepare a separate retained earnings statement for 2017. (List items that increase adjusted retained earnings first.) BLOSSOM CORP. Retained Earnings Statement For the Year Ended December 31, 2017 Retained Earnings, January 1, as reported 1,017,470 345,939.8 Correction for Overstatement of Net Income in Prior Period x 671,530.2 Retained Earnings, January 1, as adjusted Net Income / (Loss) 243,064.80 Add 428,265.4 42,930 Dividends Declared Less 385,535.4 Retained Earnings, December 31 Open Show Work Click if you would like to Show Work for this question: SHOW LIST OF ACCOUNTS Exercise 4-9 Presented below is information related to Blossom Corp. for the year 2017. Net sales $1,383,100 Write-off of inventory due to obsolescence $81,360 Cost of goods soldi 785,600 Depreciation expense omitted by accident in 2016 46,300 Selling expenses Casualty loss 74,100 50,700 Administrative expenses 52,000 Cash dividends declared 42,930 Dividend revenue 21,700 Retained earnings at December 31, 2016 1,017,470 Effective tax rate of 34% on all items Interest revenue. 7,240

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