2. H ow Didend pestor S18. The only entry na 08:00). To shares have not been issued. involving the issue of 400,000 shares of $5 par value yo l ae common stock was recorded as a debit to Retained on Stock $2,000,000. par value common stock for Retained Earnings $2,000/ Instructions Prepare the correcting entries at December 31. = balance. E14.8 (LO 2) On January 1, 2020, Eddy Corporation had retained earnings of $610.000 year, Eddy had the following selected transactions. H000.0002 1. Declared cash dividends $120,000. 2. Corrected overstatement of 2019 net income because of inventory error $40,000. 3. Earned net income $350,000. 4. Declared stock dividends $90,000. Instructions Determine the retained earnings balance at the end of the year. balance. ember 31, 2019, of $310,000, E14.9 (LO 2) Newland Company reported retained earnings at December 31, 2019, of land had 200,000 shares of common stock outstanding at the beginning of 2020, The following transactions occurred during 2020. 1. A cash dividend of $0.50 per share was declared and paid. 2. A 5% stock dividend was declared and distributed when the market price pe 3. Net income was $285,000. price per share was $15 pers