Exercise 4-12 (Part Level Submission) Stellar Corporation began operations on January 1, 2014. During its first 3 years of operations, Stellar reported net income and declared dividends as follows: Net income $43,200 131,900 168,500 Dividends declared 2014 2015 2016 s-0- 56,400 55,200 The following information relates to 2017 Income before income tax Prior period adjustment: understatement of 2015 depreciation expense (before taxes) Cumulative decrease in income from change in inventory methods (before taxes) Dividends declared (of this amount, $29,300 will be paid on January 15, 2018) Effective tax rate $232,700 $29,300 $39,000 $111,600 40% (a) Prepare a 2017 retained earnings staterment for Stellar Corporation. (List items that increase adjusted retained earnings first.) STELLAR CORPOR Retained Earnings Statement Click if you would like to Show Work for this question: Attempts: 0 of 4 used sAVE FOR LATER