At the beginning of the year (January 1), Buffalo Drilling has $12,000 of common stock outstanding and retained earnings of $8,000. During the year, Buffalo reports net income of $8,300 and pays dividends of $3,000. In addition, Buffalo issues additional common stock for $7.800. Required: Prepare the statement of stockholders' equity at the end of the year (December 31). BUFFALO DRILLING Statement of Stockholders' Equity For the Year Ended December 31 Common Stock Retained Earnings Total Stockholders' Equity Beginning balance Ending balance Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $16,000 1,000 23,000 12,000 8,000 10,000 29,000 4,000 ? Required: Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet December 31 Assets Liabilities Total liabilities 0 Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity 0 Total assets $ 0 $