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Chapter 1 Financial Accounting and Business Decisions P1-10B. Income Statement, Statement of Stockholders' Equity, and Balance Sheet Prag Corporation LO5 started business on January 1, 2016. The following information was compiled by Prag's accountant on December 31, 2016: Dividends 8,000o Accounts receivable. 6,750 Common stock. .._. .. . 33,000 Required a. You have been asked to assist the accountant for the Prag Corporation in preparing year-end financial statements. Use the above information to prepare an income statement, statement of stockholders' equity, and a balance sheet as of December 31, 2016 Comment on the decision to pay an $8,000 dividend. b