Background Information:

a) Donald Duck and Friends started their company when they issued 3,000 shares of $8 par value stock on January 1,2018

b) The stock issued at a market price of $13 per share

c) During the year, Donald Duck and Friends had revenue of $43,000

d) Donald Duck and Friends paid cash for $18,000 in expenses

e) Donald Duck and Friends paid a cash Dividend of $25,000

64 d) Prepare the Statement of Changes in Stockholders Equity Donald and Friends Statement of Changes in Stockholders Equity For the Year Ended December 31, 2018 $ 39,000 70 Beginning Common Stock 71 Plus: Issuance of Common Stock 72 Ending Common Stock 73 Beginning Retained Earnings 74 Plus: Net Income 75 Less: Dividend 76 Ending Retained earnings 77 Total Stockholders Equity $ 39,000 78 79