5 014 pons Exercise 1-11 (Algo) Link the statement of stockholders' equity to the balance sheet (LO1-3) At the beginning of 2024, Ellingham Academy reported a balance in common stock of $167,000 and a balance in retained earnings of $67000. During the year, the company issued additional shares of stock for $57,000, earned net income of $47,000, and paid i dividends of $11700. In addition, the company reported balances for the following assets and liabilities on December 31 2 ans Assets Cash Supplies Prepaid rent Land 12,600 12,500 ilities payable Salaries payable Pet Required: 1. Prepare a statement of stockholders' equity 2. Prepare a balance sheet Complete this question by entering your answers in the tabs below. Stef Stockholders Balance Sheet Equity $15,100 5,200