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At the beginning of 2018, Artichoke Academy reported a balance in common stock of $169,000 and a balance in retained earnings of $69,000. During the
At the beginning of 2018, Artichoke Academy reported a balance in common stock of $169,000 and a balance in retained earnings of $69,000. During the year, the company issued additional shares of stock for $59.000, earned net income of $49,000, and paid dividends of $11.900. In addition, the company reported balances for the following assets and abilities on December 31 Assets Liabilities Cash $ 54,500 Accounts payable $ 16,100 Supplies 12.800 Utilities payable 6.200 Prepaid rent 33.500 Salaries payable 5,400 Land 295,000 Notes payable 34,000 Required: 1. Prepare a statement of stockholders equity. ARTICHOKE ACADEMY Statement of Stockholders'Equity Retained Common Stock Earnings Total Stockholders Equity Beginning balance Ending balance 2. Prepare a balance sheet. ARTICHOKE ACADEMY Balance Sheet Assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders equity Total assots
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