During 2020, Stone Corporation performed services for which customers paid or promised to pay a total of $593,000. Of this amount, $555,000 had been collected by year-end. Stone paid $340,000 in cash for employee wages and owed the employees $15,000 at the end of the year for work that had been done but had not paid for. Stone paid interest expense of $3,000 and $195,000 for other service expenses. The income tax rate was 30%, and income taxes had not yet been paid at the end of the year. Stone declared and paid dividends of $20,000. There were no other transactions that affected cash. 1. What was the amount of the increase or decrease in cash during the year? 2. Prepare an income statement for Stone for the year 2020. 3. At the beginning of 2020, Stone's retained earnings were $80,000. Prepare a statement of stockholders' equity with only a column for retained earnings