Smithers Monuments discovered that an error was made in recording revenue in a prior year. In the year that the error is corrected, how will Smithers report the correction? Smithers will not report it separately in the financial statements because it relates to transactions that occurred in a prior year. Smithers will show it as an adjustment, net of tax, to other comprehensive income on the income statement. Smithers will show it as a separate line, net of tax, on the income statement, after discontinued operations but before other comprehensive income. Smithers willshow it on a separate line, net of tax, right after the opening bafance of retained earning