2 At the beginning of 2024, Ellingham Academy reported a balance in common stock of $161,000 and a balance in retained earnings of $61,000. During the year, the company issued additional shares of stock for $51,000, earned net income of $41,000, and paid dividends of $11,100. In addition, the company reported balances for the following assets and liabilities on December 31. 5 points eBook Print References. Cash Supplies Prepaid rent Land Assets Required: 1. Prepare a statement of stockholders' equity. 2. Prepare a balance sheet. $53,700 12,000 29,500 255,000 Stmt of Stockholders Balance Sheet Equity Prepare a balance sheet. Assets Liabilities Complete this question by entering your answers in the tabs below. Accounts payable Utilities payable Salaries payable Notes payable ELLINGHAM ACADEMY Balance Sheet December 31, 2024 $12, 100 4,600 4,600 26,000 Liabilities Check my we

At the beginning of 2024, Ellingham Academy reported a bolance in common stock of $161,000 and a balance in retained earnings of $61,000. Duing the year; the company issued additional shares of stock for $51,000, ovmed net income of $41,000, and paid dividends of $11,100. In addition, the company reported balances for the following assets and liabilities on December 31. Required: 1. Prepare a statement of stockholders' equity 2. Prepare a balonce sheet: Complete this question by entering your answers in the tabs below. Prepare a balance sheet