2. China Coffee Co. has the following beginning balances in its stockholders' equity accounts on January 1, 2017: Common stock, S100,000; paid-in capital, $4,100,000; and retained earnings, S3,000,000. Net income for the year ended December 31, 2017, is $800,000. China Coffee Co. has the following transactions affecting stockholders' equity in 2017. May 18Issues 25,000 additional shares of S1 par value common stock for $40 per share. May 3 R July 1 Repurchases 5,000 shares of treasury stock for $45 per share. Declares a cash dividend of $1 per share to all stockholders of record on July 15. Hint: Dividends are not paid on treasury stock Pays the cash dividend declared on July 1 Reissues 2,500 shares of treasury stock purchased on May 31 for $48 per share. July 31 August 10 Taking into consideration all the entries described above, prepare the statement of stockholders' equity for the China Coffee Company Statement of Stockholders'Equity For the Year Ended December 31,2017 Additional Total Common Paid-in Retained Treasury Stockholders' Stock Capital Earnings Stock Equity Balance,January1100,000 4100,0003,000,000 $ $ 7,200,000 Issued common stock Repurchased treasury stock Cash dividends Sold treasury stock Net income Balance, December 31