Noric Cruises Inc. began the month of October with the following balances: Common Stock, $150,000; Additional Paid-In Capital, $3,225,000; and Retained Earnings, $12,400,000. During June, Noric issued for cash 50,000 shares of common stock (with a stated value of $1) at $16 per share. Noric reported the following results for the month ended October 31: $2,350,000 Net income Cash dividends declared 475,000 Prepare a statement of stockholders' equity for the month ended October 31. If there is a net loss or there has been a decrease in stockholders' equity, enter that amount as a negative number using a minus sign. If an amount box does not require an entry, leave it blank. Noric Cruises Inc. Statement of Stockholders' Equity For the Month Ended October 31 Additional Paid-In Capital Common Stock Retained Earnings 12,400,000 Total Balances, October 1 150,000 3,225,000 15,775,000 Issued Common Stock Net Income Dividends Balances, October 31 $ Feedback Check My Work The statement of stockholders' equity shows the beginning balances of common stock and retained earnings. The common stock balance will be increased by any stock issued during the period. Retained earnings will be increased by any net income and decreased by any net losses and dividends