Newland Company reported retained earnings at December 31, 2016, of $05,500. Newland had 190,500 shares of common stock outstanding at the beginning of 2017. The following transactions occurred during 2017 An error was discovered. In 2015, depreciation expense was recorded at $73,500, but the correct amount was $51,000. depreciation 1. 2. A cash dividend of $0.40 per share was declared and paid. 3. 4. Net income was $290,000. Prepare a retained earnings statement for 2017. (List items that increase retained correct amount was A 10% stock dividend was declared and distributed when the market price per share was $18 per share. earnings first.) NEWLAND COMPANY Retained Earnings Statement LINK TO TEXT