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O Instructions: Please prepare a Statement of Stockholders' Equity on your scratch paper based on the following Unadjusted Trial Balance and Additional Information below
O Instructions: Please prepare a Statement of Stockholders' Equity on your scratch paper based on the following Unadjusted Trial Balance and Additional Information below to answer this question and the next question. You will need to know the ending balance for the retained earnings account and the common stock account. (Hint: you may also want to prepare a new Income Statement before preparing the Statement of Stockholders' Equity to make sure you have the necessary information for the Statement of Stockholders' Equity balances) Unadjusted Trial Balance As of 12/31/20xx Accounts Debit Credit Cash $10,174 Prepaid Rent 6,000 Supplies 4,000 Building 15,000 Accounts Payable $2.000 Deferred Revenue 10.000 Common Stock 8,000 Retained Earnings 10.000 Revenue 10,174 Rent Expense 1,000 Salaries Expense 3,000 Insurance Expense 1.000 Totals $40,174 $40.174 Additional Information Beginning Balance of Common Stock on 1/1/20xx $8.000 Beginning Balance of Retained Earnings on 1/1/20xx $10.000 No new stock or dividends paid during the accounting period. Hint: Please remember the formula for retained earnings when preparing this statement
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