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6. Assume that AFS is organized in a legal district where dividends may not be declared unles the corporation has a non-negative account balance in

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6. Assume that AFS is organized in a legal district where dividends may not be declared unles the corporation has a non-negative account balance in retained earnings at the time of dividend declaration. Also, the declaration of that dividend may not cause the retained earnings to become negative. Complete the outlined Statement of Owners' Equity following these instructions. In interest of space conservation, the title is omitted. Common Stock, \$1 par value, 20,000 shares 1. $ Paid-In in Excess of Par Value, Common Stock Total Invested Capital in AFS Retained Earnings, 04/30/2023 (beginning) Add: Net Income Less: Dividends Retained Earnings, 12/31/2023 (ending) Total Owners' Equity, 12/31/2023 8. 6. Assume that AFS is organized in a legal district where dividends may not be declared unles the corporation has a non-negative account balance in retained earnings at the time of dividend declaration. Also, the declaration of that dividend may not cause the retained earnings to become negative. Complete the outlined Statement of Owners' Equity following these instructions. In interest of space conservation, the title is omitted. Common Stock, \$1 par value, 20,000 shares 1. $ Paid-In in Excess of Par Value, Common Stock Total Invested Capital in AFS Retained Earnings, 04/30/2023 (beginning) Add: Net Income Less: Dividends Retained Earnings, 12/31/2023 (ending) Total Owners' Equity, 12/31/2023 8

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