At the beginning of the year (January 1), a company has retained earnings of $7,600 and $11,000 of common stock. During the year, the company reports net income of $7,900 and pays dividends of $2,600. In addition, the company issues additional common stock for $7,400. Required: Prepare the statement of stockholders' equity at the end of the year (December 31). Statement of Stockholders' Equity For the Year Ended December 31 Total Common Retained Stock Stockholders' Earnings Equity Beginning balance $ 11,000 $ 7,600 $ 18,600 Issuance of common 7,400 7,400 stock Add: Net income 7,900 7,900 Less: Dividends 2,600 2,600 Ending balance $ 18,400 $ 12,900