need help with this retained earnings with ppa for eddie zambrano

2 of 6 Chapter 04 Homework - Statement of Retained Earnings Exercise 4-12 Statement of retained earnings with PPA Eddie Zambrano Corporation began operations on January 1, 2017. During its first 3 years of operations, Zambrano reported the following: Year Net income Dividends 2017 $4,000 $ 0 2018 125,000 50,000 2019 160,000 50,000 The following information relates to 2020. Income before income tax 240.000 Understatement of 2018 depreciation expense (before taxes) 25,000 Cumulative decrease in income from change in inventory method (before taxes) 35,000 Dividends declared 100,000 Effective tax rate for all years 20% Instructions: Prepare a statement of retained earnings for the current year. of 6 738 words X D Focus