5 Required information Part 2 of 3 [The following information applies to the questions displayed below) 3.57 points Assume that you are the president of Highlight Construction Company. At the end of the first year of operations (December 31), the following financial data for the company are available: Cash $25,100 Receivables from customers (all considered collectible) 12,200 Inventory of merchandise (based on physical count and priced at cost) Equipment owned, at cost less used portion 82,000 41,500 Book Accounts payable owed to suppliers 47,340 eferences Expenses, including the cost of the merchandise sold (excluding income taxes) Income tax expense at 30% pretax income; all paid during the current year Common stock (December 31) Salary payable (on December 31, this was owed to an employee who will be paid on January 10) Total sales revenue 2,000 126,000 84,200 7 92,300 Dividends declared and paid during the current year 10,100 (Note: The beginning balances in Common stock and Retained earnings are zero because it is the first year of operations.) 2. Prepare a statement of stockholders' equity for the year HIGHLIGHT CONSTRUCTION COMPANY Statement of Stockholders' Equity Common Stock Retained Earnings Balance January 1, Cument year Balance December 31, Current year