On December 31, 2024. Rachel Cooking Services reports the following revenues and expenses. In addition, the balance of common stock at the beginning of the year was $160,000, and the balance of retained earnings was $30,000 During the year, the company issued additional shares of common stock for $24,000 and pald dividends of $14,000. Required: 1. Prepate 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. Complete this question by entering your answers in the tabs below. Prepare a Statement of Stockholders' Equity