Paulouël's restatement table (comparative year 2024, published amounts): inventories at 31 December 500,000, retained earnings at 31 December 1,800,000, profit 260,000. The new policy increases inventories by 40,000 at 1 January 2024 and by 55,000 at 31 December 2024; deferred tax rate 25 % (case data). Compute the three restated amounts.
- Published inventories
- 500,000
- Published retained earnings
- 1,800,000
- Published 2024 profit
- 260,000
- Opening difference
- 40,000
- Closing difference
- 55,000
- Tax rate
- 25 %