10. Pearmain, Inc. had beginning retained eamings of $280,000 on January 1, 2018. During the year, Pearmain declared and paid S170,000 of cash dividends and eamed $180,000 of net income. Prepare a statement of retained earnings for Pearm , Inc. for the year ended Decem Enter any increases in retained eamings prior to the subtotal and any decreases to retained eanings below the subtotal. Pearmain, Inc. Statement of Retained Earnings Year Ended December 31, 2018 On January 1, 2018, Turner Corporation signed a $60,000, four-year, 10% note. The loan required Turner to make payments annually on December 31 of $15,000 principal plus interest. 1. Journalize the issuance of the note on January 1, 2018. 2. Journalize the first payment on December 31, 2018. (Record debits first, then credits. Select explanations on the last line of the journal entry.) Journalize the issuance of the note on January 1, 2018. Accounts and Explanation Date Debit Credit Jan. 1 Journalize the first payment on December 31, 2018. Date Accounts and Explanation Debit Credit Dec. 31