At the beginning of the year, B2Men Music had the following in shareholders' equity:

Contributed Capital:

Common stock, $1 par $ 100,000

Additional paid-in capital on common stock $300,000

Total Contributed Capital $400,000

Retained Earnings $608,000

Total Shareholders' Equity $1,008,000

The following happened during the year:

1.) B2Men Music issued 50,000 shares of common stock at $5 per share.

2.) They earned net income of $475,300.

3.) B2Men Music paid a cash dividend of $.05 per share of common stock

Required: Prepare the statement of shareholders equity for the year.

At the beginning of the year, Uncoordinated TikTok Videos had the following in shareholders' equity:

Contributed Capital:

Common stock, $1 par $120,000

Additional paid-in capital on common stock $300,000

Total Contributed Capital $420,000

Retained Earnings $608,000

Total Shareholders' Equity $1,028,000

The following happened during the year:

1.) Uncoordinated TikTok Videos issued 50,000 shares of common stock at $2 per share.

2.) They earned net income of $215,300.

3.) Uncoordinated TikTok Videos paid a cash dividend of $.03 per share of common stock

Required: Prepare the statement of shareholders equity for the year.