At the beginning of 2018, Artichoke Academy reported a balance in common stock of $167,000 and a balance in retained earnings of $67,000. During the year, the company issued additional shares of stock for $57,000, earned net income of $47,000, and paid dividends of $11,700. In addition, the company reported balances for the following assets and liabilities on December 31.

Assets			Liabilities
Cash	$	54,300	Accounts payable	$	15,100
Supplies		12,600	Utilities payable		5,800
Prepaid rent		32,500	Salaries payable		5,200
Land		285,000	Notes payable		32,000
1. Prepare a statement of stockholders equity. 2. Prepare a balance sheet.