At the beginning of the year (January 1), Maurice and Sons has $15,100 of common stock outstanding and retained earnings of $2,800. During the year, the company reports net income of $2,140 and pays dividends of $690. In addition, the company issues additional common stock for $7,600.

At the beginning of the year (January 1), Maurice and Sons has $15,100 of common stock outstanding and retained earnings of $2,800. During the year, the company reports net income of $2,140 and pays dividends of $690. In addition, the company issues additional common stock for $7,600. Prepare the statement of stockholders' equity at the end of the year (December 31). MAURICE AND SONS Statement of Stockholders' Equity For the year ended December 31 Common Stock $ 15,100 7,600 Retained Earnings $ 0 0 Total Stockholders' Equity $ 0 0 Balance at January 1 Issuance of Common Stock Add: Net Income for the Year Less: Dividends Balance at December 31 0 22,700 0 0 $ S $ 0 X Answer is complete but not entirely correct. MAURICE AND SONS Statement of Stockholders' Equity For the year ended December 31 Common Stock Retained Earnings Total Stockholders' Equity $ 0 % 0X $ $ 0 Balance at January 1 Issuance of Common Stock Add: Net Income for the Year Less: Dividends Balance at December 31 15,100 7,600 0 O 22,700 0% 0 X OX $ $ 0 $ 0