At 31 December 2024, Draivane's assets are overstated by 120,000 because of an error concerning 2023 and 2024. Its published retained earnings at that date are 3,400,000; the correction gives rise to a deferred tax asset at a rate of 25 % (case data). What retained earnings should be presented at 31 December 2024 as the comparative?
- Published retained earnings at 31 December 2024
- 3,400,000
- Cumulative overstatement of assets
- 120,000
- Tax rate
- 25 %