Assets=	Liabilities+	Stockholders Equity
Beginning	$54,000=	+$30,000	+$24,000
Changes			?	?
			?	?
Ending			?

Total Assets were $54,000 and total liabilities were $30,000 at the beginning of the year. Net income for the year was $9,500, and dividends of $3,500 were declared and paid during the year. Required: Calculate total stockholders equity at the end of the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.)