On January 1, 2017, Eddy Corporation had retained earnings of $533,000. During the year, Eddy had the following selected transactions. 1. Declared cash dividends $113,000. 2. Corrected overstatement of 2016 net income because of inventory error $36,500. 3. Earned net income $341,500. 4. Declared stock dividends $56,500. Prepare a retained earnings statement for the year. (List items that increase retained earnings first.) EDDY CORPORATION Retained Earnings Statement