Link the statement of stockholders' equity to the balance sheet

)dule I/Chapter1 0 Saved Exercise 1-10 (Algo) Link the income statement to the statement of stockholders' equity (LOI-3) On December 31, 2024, Emerl Cooking Services reports the following revenues and expenses. Service revenue Postage expense Legal fees expense $ 85, Rent expense 2, 000 Salaries expense 2, 900 Supplies expense $ 11,600 34, 19,500 ts kipped print erences 1.8 In addition, the balance of common stock at the beginning of the year was $700,000, and the balance of retained earnings was $52,000. During the year, the company issued additional shares of common stock for $35,000 and paid dividends of $30,000. Required: 1. Prepare an income statement 2. Prepare a statement of stockholders' equity. points Skipped print References 1.8 points Skipped print References Stmt of Income Stockholders Statement Equity Prepare an Income Statement. EMERL COOKING SERVICES Income Statement For the Year Ended December 31, 2024 Expenses: Total Expenses Stmt of Income Stockholders Statement Equity Prepare a Statement of Stockholders' Equity. EMERL COOKING SERVICES Statement of Stockholders' Equity For the Year Ended December 31, 2024 Beginning Balance Ending Balance Common Stock Income Statement Total Retained Stockholders' Earnings Equity Stmt of Stockholders Equity