Introduction to Accounting and Business 2. Briefly explain why issuing common stock and revenues increased stockholders equity, while dividends and expenses decreased stockholders' equity 3. Determine the net income for March, How much did March's transactions increase or decrease stockholders' equity? PR 1-2B Financial statements Obj. 5 Income: 200,000 The assets and liabilities of Wilderness Travel Service on April 30, 20Y7, and its revenue and expenses for the year are as follows Accounts payable 525,000 Rent expense $75,000 PLATE Accounts receivable Cash Common stock 210,000 Supplies 9,000 156,000 Supplies expense 12.000 35,000 Takes expense 10.000 38,000 Fees earned Miscellaneous expense 875,000 Ublities expense 15,000 Wages expense 525,000 Common stock was $25,000 and retained earnings was $155,000 as of May 1, 2016. During the year, additional common stock of $10,000 was issued for cash, and dividends of $40,000 were paid Instructions 1. Prepare an income statement for the year ended April 30, 2017 2. Prepare a statement of stockholders equity for the year ended April 30, 2017, Prepare a balance sheet as of April 30, 2017. 4. What item appears on both the income statement and statement of stockholders equity PR 1-3B Financial statements Obj.5 income: Jose Loder established Bronco Consulting on August 1, 2011. The effect of each transaction and $10,900 the balances after each transaction for August follow: Stockholders' Equity