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Statement of Stockholders' Equity On January 1, the balance of the Retained Earnings account was $48,000. The company's Common Stock account had an opening balance of $70,000, and $6,000 in new capital contributions were made during the year. During the year, dividends of $9,700 were paid. The income statement shows net income of $29,900. Prepare a statement of stockholders' equity for Strife & Company, architectural design firm. Note: Use a negative sign with your answers for the "Less" amounts. Strife & Company Statement of Stockholders' Equity For Year Ended December 31 Common Stock Retained Earnings Total Balance, January 1 Add: Common Stock Net income Dividends Balance, December 31 1 Less: Transaction Analysis and Adjustments For each of the following unrelated situations, determine the financial statement effect using the Transaction Analysis Template: a. Unrecorded depreciation on equipment is $610. b. The Supplies account has a balance of $2,990. Supplies on hand at the end of the period totaled $1,100. c. On the date for preparing financial statements, an estimated utilities expense of $390 has been incurred incurred, but no utility bill has been received. d. On the first day of the current month, rent for four months was paid and recorded as a $2,800 increase to Prepaid Rent and a $2,800 decrease in Cash. Monthly statements are now being prepared. e. Nine months ago, Solid Insurance Company sold a one-year policy to a customer and recorded the receipt of the premium by increasing Cash and Unearned Premium Revenue for $624. No adjusting entries have been prepared during the nine-month period. Annual financial statements are now being prepared. f. At the end of the accounting period, employee wages of $965 have been incurred but not paid. g. At the end of the accounting period, $300 of interest has been earned but not yet received on notes receivable. Note: Use negative signs with answers, when appropriate. Balance Sheet Income Statement Transaction Assets = Liabilities Stockholders' Equity Revenues. Expenses Net Income a. To record depreciation. b. To record supplies. c. To record utilities. d. To record rent. e. To record revenue. f. To record wages. g. To record interest. Check