Question
At the beginning of 2021, Artichoke Academy reported a balance in common stock of $169,000 and a balance in retained earnings of $69,000. During
At the beginning of 2021, 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 liabilities on December 31. Cash Supplies Prepaid rent Land Assets Liabilities $ 54,500 12,800 Accounts payable $16,100 Utilities payable 6,200 33,500 295,000 Salaries payable Notes payable 5,400 34,000 Required: 1. Prepare a statement of stockholders' equity. 2. Prepare a balance sheet. Complete this question by entering your answers in the tabs below. Stmt of Stockholders Balance Sheet Equity Prepare a statement of stockholders' equity. ARTICHOKE ACADEMY Statement of Stockholders' Equity
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