Fulton Company was established at the beginning of $2014$ when several investors paid a total of $$200,000$ to purchase Fulton common stock. No additional investments in common stock were made during the year. By December $31,2014,$ Fulton had cash on hand of $$45,000,$ office equipment of $$40,000,$ inventory of $$156,000,$ and accounts payable of $$10,000.$ Sales for the year were $$812,000.$ Of this amount, customers still owed $$20,000.$ Fulton paid dividends of $$25,000$ to its stockholders during $2014.$ Required: Prepare a balance sheet for December $31,2014,$ you must calculate ending balance of retained earnings, prepare a statement of stockholders equity for the year ended, and what amoutn should Fulton's net income for $2014?$