At the end of the prior year annual reporting period, Barnard Corporation's balance sheet showed the following: BARNARD CORPORATION Balance Sheet At December 31, Prior Year Stockholders' equity Contributed capital Common stock (par $10; 5,800 shares ) Paid-in capital Total contributed capital Retained earnings Total stockholders' equity $ 58,000 19,000 77,000 49,000 $126,000 During the current year, the following selected transactions (summarized) were completed: a. Sold and issued 1,100 shares of common stock at $20 cash per share (at year-end). b. Determined net income, $47.000. c. Declared and paid a cash dividend of $4 per share on the beginning shares outstanding. Required: Prepare a statement of stockholders' equity for the year ended December 31, current year. BARNARD CORPORATION Statement of Stockholders' Equity Common Stock Shares Amount Paid-in Capital Retained Earnings Total Stockholders' Equity Balances as of December 31, prior year Add: Net income Less: Dividends declared Stock issued Balances as of December 31, current year