Exercise 1-11 Link the statement of stockholders' equity to the balance sheet (LO1-3) At the beginning of 2018, Artichoke Academy reported a balanoe in common stock of $158.000 and a balanoe in retained eamings of $50.000. During the year, the company issued addional shares of stock for $48,000, eamed net income of S38,000, and paid dividends of $10,800. In addition, the company reported balances for the following assets and labtes on December 31. Asets Cash Supples Prepaid rent Land 53400 Accounts payatie 11,700 Utes payable 28,000 Salanes payable 240.000 Notes payable $0000 4.000 4300 23000 Required: 1. Prepare a statement of stockholders' equity ARTICHOKE ACADEMY Statement of Stockholders' Equity Total Stockholders' Equity Retained Common Stock Earnings Beginning balance Ending balance 2. Prepare a balance sheet. ARTICHOKE ACADEMY Balance Sheet Assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total assets Total liabilities and stockholders' equity