On January 1, 2017, Eddy Corporation had retained earnings of $548,000. During the year, Eddy had the following selected transactions. 1. Declared cash dividends $128,000. 2. Corrected overstatement of 2016 net income because of depreciation error $44,000. 3. Earned net income $349,000. 4. Declared stock dividends $64,000. Prepare a retained earnings statement for the year. (List items that increase retained earnings first.)