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At the beginning of Year 1, a company reported a balance in common stock of $152,000 and a balance in retained earnings of $52,000. During
At the beginning of Year 1, a company reported a balance in common stock of $152,000 and a balance in retained earnings of $52,000. During the year, the company issued additional shares of stock for $42,000, earned net income of $32,000, and paid dividends of $10,200. In addition, the company reported balances for the following assets and liabilities on December 31 $ Cash Supplies Prepaid rent Land $ 52,00 11.109 25,000 210,000 Liabilities Accounts payable Utilities payable Salaries payable Notes payable 7,00 2,803 3.700 17.000 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 Prepare a statement of stockholders' equity
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