The balance sheet of Zheng Management Consulting, Inc. at December 31, 2024, reported the following stockholders’ equity .

During 2025, Zheng Management Consulting, Inc. completed the following selected transactions: 

Requirements 

1. Record the transactions in the general journal. 

2. Prepare a statement of retained earnings for the year ended December 31, 2025. Assume Zheng Management Consulting, Inc.’s net income for the year was $81,000. 

3. Prepare the stockholders’ equity section of the balance sheet at December 31, 2025.

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Stockholders' Equity Paid-In Capital: Common Stock-$10 Par Value; 200,000 shares authorized, 15,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings Total Stockholders' Equity $ 150,000 310,000 460,000 162,000 $ 622,000