Firancial statements The assets and liabuities of Widerness Travel Service on April 30,20y, and its revenue and expenses for the year are as follows: Common stock was $25,000 and retained eamings was $155,000 as of May 1, 20Y6. During the year, additional comman stock of $10,000 was issued for cash, and dividends of $40,000 were paid. Required: 1. Prepare an income statement for the year ended Apeil 30,20%7. 1. Prepare an income statement for the year ended April 30, 20Y7. 2. Prepare a statement of stockholders' equity for the year ended April 30,20y7. If an amount box does not require an entry, leave it blank. If a net loss is incurred a dividends were pald, enter that amount as a negative number using a minus sign. 3. Prepare a balance sheet as of April 30, 20r7. When entering assets, enter them in order of liquidity. 4. What item appears on both the income statement and statement of stockholders' equity