Due to an error in computing depreciation expense, Prewitt Corporation overstated accumulated depreciation by $21 million as of December 31, 2021. Prewitt has a tax rate of 25%. Prewitt's retained earnings as of December 31, 2021, would be: (Round million answer to 2 decimal places.)

It is understated the retained earnings by $15,750,000

Explanation:

The computation of the retained earnings is shown below:

Accumulated depreciation $21,000,000

Less: Deferred tax liability $5,250,000  ($21,000,000 × 0.25)

Retained earnings $15,750,000

Hence, the retained earning is $15,750,000

It is understated the retained earnings by $15,750,000

The same is to be considered

answer; (15,000)workers each

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number