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On January 1, 2017, Eddy Corporation had retained earnings of $650,000. During the year, Eddy...

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Accounting

On January 1, 2017, Eddy Corporation had retained earnings of $650,000. During the year, Eddy had the following selected transactions. 1. Declared cash dividends $120,000. 2. Corrected overstatement of 2016 net income because of depreciation error $40,000. 3. Earned net income $350,000. 4. Declared stock dividends $90,000.

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