10. The stockholders' equity of Crater, Inc. at December 31, 2016, appears below: Common stock, $25 par value, 200,000 shares authorized, 135,000 shares issued and outstanding. Paid-in capital in excess of par value. Retained earnings. During 2017, the following transactions occurred: May 10: August 31: 3,375,000 1,750,000 2,575,000 Declared a 10% common stock dividend when market value was $50 per share Issued the stock dividend declared on June 15. December 10: Declared a cash dividend of $3.50 per share to be paid in January 2018. Recognized net income of $ 1,630,500. December 31: Fill in the blanks to compute the year-end balance of the retained earnings for 2017. Retained earnings December 31, 2016. Net income.. Stock dividends (135,000 shares 10% $50 market value) Cash dividends (148,500 shares x $3.50 per share). Retained earnings December 31, 2017