PRINTER VERSION Brief Exercise 14-6 dividends of $88,000 and The balance in retained earnings on January 1, 2 for Inc. was o. During the year, the corporation paid cash years by $46,000. Net incom distributed a stock dividend of $8,000. In addition, the company determined that it had understated its insurance expense in prior was $130,000. Prepare the retained earnings statement for 2017. (List items that increase retained earnings first.)