Due to an error in computing depreciation expense, Prewitt Corporation overstated accumulated depreciation by $22 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.) Multiple Choice Understated by $5.50 million. Overstated by $16.50 million. Overstated by $5.50 million. Understated by $16.50 million.

An important source of public scrutiny is "watchdogs." these are: the efforts of a firm's competitors, including how often the competitors attack the firm's strategies. taxpayer-supported government agencies that limit a firm's ability to compete in foreign markets. companies designated by the government to only produce products that support the government defense program. socially conscious groups that make it their mission to measure the social responsibility levels of businesses, and provide consumers with their opinions about the level of corporate responsibility of various companies.