On December 31,2024 , Paula Cooking Services reports the following revenues and expenses. In addition, the balance of common stock at the beginning of the year was $500,000, and the balance of retained earnings was $44,000. During the year, the company issued additional shares of common stock for $31,000 and paid dividends of $22,000. Required: 1. Prepse 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