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The Dayton Corporation began the current year with a retained earnings balance of $17,674. During...

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Accounting

The Dayton Corporation began the current year with a retained earnings balance of $17,674. During the year, the company corrected an error made in the prior year, which was a failure to record a depreciation expense of $2,040 on equipment. Also, during the current year, the company earned net income of $10,136 and declared cash dividends of $5,836. Compute the year end retained earnings balance.

Select the correct answer.

A $19,934

B $17,674

C $21,974

D $35,686

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