At the beginning of Year 1, a company reported a balance in common stock of $162,000 and a balance in retained earnings of $62,000. During the year, the company issued additional shares of stock for $52,000, earned net income of $42,000, and paid dividends of $11,200. In addition, the company reported balances for the following assets and liabilities on December 31 Assets Cash Supplies Prepaid rent Land $ 53,800 12,100 30,000 260,000 Liabilities Accounts payable Utilities payable Salaries payable Notes payable $12,600 4,800 4,700 27,000 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. Statement of Stockholders' Equity For the Year Ended December 31, Year 1 Common Stock Retained Earnings Total Stockholders Equity Beginning Balance 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 Yoar Ended December 31, Year 1 Common Stock Retained Earnings Total Stockholders Equity Beginning Balance Ending Balance Set Stockholms Equity Balance Sheet > Complete this question by entering your answers in the tabs below. Stmt of Stockholders Balance Sheet Equity Prepare a balance sheet. Balance Sheet December 31, Year 1 Assets Liabilities Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity Total Assets