In 2016,due to a change in marketing forecasts,Barney Corporation reduced the projected life of its patent for producing round dice.The cumulative patent amortization prior to 2016 would have been $10 million higher had the new life been used.Barney's tax rate is 30%.Barney's retained earnings as of December 31,2016,would be:
A)Overstated by $7 million.
B)Overstated by $3 million.
C)Overstated by $10 million.
D)Unaffected.

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The Answer of In 2016,due to a change in marketing forecasts,Barney Corporation reduced the projected life of its patent for producing round dice.The cumulative patent amortization prior to 2016 would have been $10 million higher had the new life been used.Barney's tax rate is 30%.Barney's retained earnings as of December 31,2016,would be:
A)Overstated by $7 million.
B)Overstated by $3 million.
C)Overstated by $10 million.
D)Unaffected.

In 2016,due to a Change in Marketing Forecasts,Barney Corporation Reduced