Reconciling Retained Earnings Use the following data to reconcile the 2019 retained earnings for Springwerth Company (that is, explain the change in retained earnings during the year). Total retained earnings, December 31, 2018 Stock dividends declared and distributed in 2019 Cash dividends declared and paid in 2019 Net income for 2019 $1,074,000 92,000 110,000 406,000 Note: Use a negative sign with your answer(s) to show a reduction. Note: If an account label is not needed, enter a zero or leave the answer blank. Springwerth Company Statement of Retained Earnings For Year Ended December 31, 2019 Retained earnings, December 31, 2018 $ Net income Stock dividends 0 0 0 Cash dividends 0 Retained earnings, December 31, 2019 $ 0