Bindra Company A.S. reported retained earnings at December 31, 2016, of 340,000. Bindra had 200,000 ordinary shares outstanding at January 1, 2017. The following transactions occurred during 2017. 1. An error was discovered: in 2015, depreciation expense was recorded at 66,000, but the correct amount was 50,000. 2. A cash dividend of 0.50 per share was declared and paid. 3. A 5% share dividend was declared and distributed when the market price per share was 14 per share. 4. Net income was 285,000.