On January 1, 2017, Eddy Corporation had retained earnings of $549,000 During the year, Eddy had the following selected transactions 1 Declared cash dividends $129,000 2 Corrected overstatement of 2016 net income because of inventory error $44,500 3 Earned net income $349,500 4 Declared stock dividends $64,500 Prepare a retained earnings statement for the year (List items that increase retained earnings first ) EDDY CORPORATION Retained Earnings Statement For the Year Ended December 31, 2017December 31, 2017For the Quarter Ended December 31, 2017 Cash DividendsCorrection for Overstatement of 2016 Net IncomeExpensesNet Income (Loss)Balance, January 1, as reportedBalance, January 1, as adjustedBalance, December 31RevenuesStock DividendsTotal ExpensesTotal Revenues $ Cash DividendsCorrection for Overstatement of 2016 Net IncomeExpensesNet Income (Loss)Balance, January 1, as reportedBalance, January 1, as adjustedBalance, December 31RevenuesStock DividendsTotal ExpensesTotal Revenues Cash DividendsCorrection for Overstatement of 2016 Net IncomeExpensesNet Income (Loss)Balance, January 1, as reportedBalance, January 1, as adjustedBalance, December 31RevenuesStock DividendsTotal ExpensesTotal Revenues AddLess Cash DividendsCorrection for Overstatement of 2016 Net IncomeExpensesNet Income (Loss)Balance, January 1, as reportedBalance, January 1, as adjustedBalance, December 31RevenuesStock DividendsTotal ExpensesTotal Revenues AddLess Cash DividendsCorrection for Overstatement of 2016 Net IncomeExpensesNet Income (Loss)Balance, January 1, as reportedBalance, January 1, as adjustedBalance, December 31RevenuesStock DividendsTotal ExpensesTotal Revenues $ Cash DividendsCorrection for Overstatement of 2016 Net IncomeExpensesNet Income (Loss)Balance, January 1, as reportedBalance, January 1, as adjustedBalance, December 31RevenuesStock DividendsTotal ExpensesTotal Revenues Cash DividendsCorrection for Overstatement of 2016 Net IncomeExpensesNet Income (Loss)Balance, January 1, as reportedBalance, January 1, as adjustedBalance, December 31RevenuesStock DividendsTotal ExpensesTotal Revenues $

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On January 1, 2017, Eddy Corporation had retained earnings of $549,000. During the year, Eddy had the following selected transactions. 1. Declared cash dividends $129,000.

On January 1, 2017, Eddy Corporation had retained earnings of $549,000. During the year, Eddy had the following selected transactions.

1.	Declared cash dividends $129,000.
2.	Corrected overstatement of 2016 net income because of inventory error $44,500.
3.	Earned net income $349,500.
4.	Declared stock dividends $64,500.

Prepare a retained earnings statement for the year.(List items that increase retained earnings first.)

EDDY CORPORATION Retained Earnings Statement For the Year Ended December 31, 2017December 31, 2017For the Quarter Ended December 31, 2017
Cash DividendsCorrection for Overstatement of 2016 Net IncomeExpensesNet Income / (Loss)Balance, January 1, as reportedBalance, January 1, as adjustedBalance, December 31RevenuesStock DividendsTotal ExpensesTotal Revenues	$
Cash DividendsCorrection for Overstatement of 2016 Net IncomeExpensesNet Income / (Loss)Balance, January 1, as reportedBalance, January 1, as adjustedBalance, December 31RevenuesStock DividendsTotal ExpensesTotal Revenues
Cash DividendsCorrection for Overstatement of 2016 Net IncomeExpensesNet Income / (Loss)Balance, January 1, as reportedBalance, January 1, as adjustedBalance, December 31RevenuesStock DividendsTotal ExpensesTotal Revenues
AddLess:	Cash DividendsCorrection for Overstatement of 2016 Net IncomeExpensesNet Income / (Loss)Balance, January 1, as reportedBalance, January 1, as adjustedBalance, December 31RevenuesStock DividendsTotal ExpensesTotal Revenues

AddLess:
Cash DividendsCorrection for Overstatement of 2016 Net IncomeExpensesNet Income / (Loss)Balance, January 1, as reportedBalance, January 1, as adjustedBalance, December 31RevenuesStock DividendsTotal ExpensesTotal Revenues	$
Cash DividendsCorrection for Overstatement of 2016 Net IncomeExpensesNet Income / (Loss)Balance, January 1, as reportedBalance, January 1, as adjustedBalance, December 31RevenuesStock DividendsTotal ExpensesTotal Revenues

Cash DividendsCorrection for Overstatement of 2016 Net IncomeExpensesNet Income / (Loss)Balance, January 1, as reportedBalance, January 1, as adjustedBalance, December 31RevenuesStock DividendsTotal ExpensesTotal Revenues	$