E5-10. Prepare Statement of Stockholders' Equity. Ciara's Cookie Company provided the following account balances from its yearend trial balance. Ciara's Cookie Company Trial Balance (Selected Accounts) For the CurrentYear Ended December 31 Account Debit Credit Retained Earnings, Beginning Balance $1,200,950 Accumulated Other Comprehensive Income, Beginning $ 55,675 Balance Dividends 572000 Sales 1,200,895 Interest Income 3,400 Dividend Income 3,250 Gain on Sale of Property 6,789 Gain on Disposal of Plant Assets 76.000 Unrealized Gain on Trading Investments 27,250 Unrealized Gain on Available-forSale Bonds BeforeTax 3.500 Gain on Sale of Discontinued Operations Before Tax 56,780 Cost of Goods Sold 450,000 Selling Expenses 37,450 Office Supplies Expense 54,800 Amortization Expense 12,000 Sales Salaries Expense 23,500 Advertising Expense 21,500 Office Salaries Expense 65,000 Depreciation Expense 25,500 Legal Fees 8.000 Accounting Fees 10,425 Interest Expense 6,700 Loss on Asset Impairment 9,050 During the year, Ciara issued nopar common stock. The proceeds of the new issue were $25,000. The com pany is subject to a 40% income tax rate. The beginning balance in common stock was $456,000. Prepare a statement of stockholders' equity for the current year. Note: You will need to solve for net income using the given information. Round to the nearest dollar. Ciara's Cookie Company Components of Net Income from the Unadjusted 'l'rial Balance For the Year Ended December 3 1 Account Credit Sales 1,200,895 Interest Income 3,400 Dividend Income 3,250 Gain on Sale of Property 6,789 Gain on Disposal of Plant Assets 76,000 Unrealized Gain on Trading Investments 27,250 Gain on Sale of Discontinued Operations Before Tax 56,780 Cost of Goods Sold 450,000 Selling Expenses 37,45 0 Ofce Supplies Expense 54,800 Amortization Expense 12,000 Sales Salaries Expense 23,500 Advertising Expense 21,500 Ofce Salaries Expense 65,000 Depreciation Expense 25,500 Legal Fees 8,000 Accounting Fees 10,425 Interest Expense 6,?00 Loss on Asset Impairment 9,050 Total 723,925 1,374} 64 Net Income Computation: Total Revenues and Income (total credits) l,374,3 64 Total Expenses and Losses (total debits) 723,925 Income before taxes 650,439 Tax Expense at 40% -260,1?5.6 Net Income 390,263.4 Ciara's Cookie Company Statement of Stockholders' Equity For the Current Year Ended December 31 Accumulated Total Common Stock Other Retained Earnings (no par stock) Comprehensive Stockholders' Equity Income Beginning Balance, January 1 0 New Issuance of Common Stock - no par Net Income Dividends Declared Other Comprehensive Income: Unrealized Gain on Available-for-Sale Securities, net of tax Ending Balance, December 31 0 0 0 0