On January 1, 2014, Eddy Corporation had retained earnings of $545,310. During the year, Eddy had the following selected transactions.
1. Declared cash dividends $120,710.
2. Corrected overstatement of 2013 net income because of depreciation error $42,350.
3. Earned net income $348,650.
4. Declared stock dividends $63,260.
Prepare a retained earnings statement for the year. (List items that increase retained earnings first)