At the beginning of Year 1, a company reported a balance in common stock of $154,000 and a balance in retained earnings of $54,000. During the year, the company issued additional shares of stock for $44,000, earned net income of $34,000, and paid dividends of $10,400. In addition, the company reported balances for the following assets and liabilities on December 31. Assets Cash Supplies Prepaid rent Land $ 53,000 11,300 26,000 220,000 Liabilities Accounts payable Utilities payable Salaries payable Notes payable $ 8,600 3,200 3,900 19,000 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 Complete this question by entering your answers in the tabs below. Stmt of Stockholders Balance Sheet Equity Prepare a statement of stockholders' equity. Statement of Stockholders' Equity For the Year Ended December 31, Year 1 Common Stock Retained Earnings Total Stockholders' Equity Beginning Balance Ending Balance Prepare a balance sheet. Balance Sheet December 31, Year 1 Assets Liabilities Total Liabilities Stockholders' Equity 0 Total Stockholders' Equity Total Liabilities and Stockholders' Equity Total Assets $ 0 $ $ 0