PRINTER VERSION BACK CES Exercise 14-8 On January 1, 2017, Eddy Corporation had retained earnings of $535,000. During the year, Eddy had the following selected transactions. 1. Declared cash dividends $115,000. Corrected overstatement of 2016 net income because of inventory error $37,500. 3. Earned net income $342,500. 4. Declared stock dividends $57,500. 2 Prepare a retained earnings statement for the year. (List items that increase retained earnings first.) EDDY CORPORATION Retained Earnings Statement dy V $ PRINTER VERSION BACK NE CES EDDY CORPORATION Retained Earnings Statement udy s Click if you would like to Show Work for this question: Open Show Work