Acacia Mutual Life Insurance Co., of Washington, has reported record earnings and insurance sales during 1978.

Chairman Daniel Hurson also said that assets of the 109-year old firm topped the three-quarter billion dollar level at the end of the year and stood at $755 million.

From operations, Acacia earned $24.4 million, a gain of 21 percent over 1977. Of the total gain, $17.6 million was allocated for policyholder dividends -- some $300,000 higher than the previous year's record payout.

Life insurance sales rose 4 percent to $518 million and total life policies in force rose more than 6 percent to $4.2 billion. Premium income rose $3.2 million to $74.5 million.

Solon Automated Services Inc., a Washington supplier of laundry equipment services to apartment houses, reported a sharp increase in earnings for the year ended Sept. 30.

Profits were $5 million ($1.62 a share) in the recent year compared with $3.6 million ($1.17) in fiscal 1977, as revenues rose to $58 million from $48 million. In the final quarter, Solon earned $1.14 million (38 cents) compared with $1.38 million (35 cents) and sales rose to $14.5 million from $12.9 million.

Smith's Transfer Corp., a Staunton-based trucking firm, reported 1978 earnings of $9.3 million ($3.69 a share) compared with $9 million ($3.59) in 1977. Revenues rose to $252 million from $193 million.