On December 31, 2024, Emerl Cooking Services reports the following revenues and expenses. In addition, the balance of common stock at the beginning of the year was $850,000, and the balance of retained earnings wa $58,000. During the year, the company issued additional shares of common stock for $38,000 and paid dividends of $36,000 Required: 1. Prepare an income statement. 2. Prepare a statement of stockholders' equity. Complete this question by entering your answers in the tabs below. Prepare an Income Statement. Prepare an Income Statement. Prepare a Statement of Stockholders' Equity