prepare a statement of stockholders equity for the year

STATS E BOOK port.open.sunt apter 1 Homework Help Save & Exh Sub Assume that you are the president of Highlight Construction Company. At the end of the first year of operations (December 31), the following financial data for the company are available: Check my work of a Cash Receivables from customers (all considered collectible) $ 26,30 Inventory of merchandise (based on physical count and priced at cost) 12,200 30,000 Equipment wed, at cost less used portion 41,900 Accounts payable owed to suppliers 47,240 Salary payable (on December 31, this was owed to an employee who will be paid on January 10) Total sales revenue 3,200 135,600 Expenses, including the cost of the merchandise sold (excluding income taxes) 83,2ee Income tax expense at 30% pretax income, all paid during the current year Common stock (December 31) 84.ee Dividends declared and paid during the current year 10,960 (Note: The beginning balances in Common stock and Retained earnings are zero because it is the first year of operations.) 2. Prepare a statement of stockholders' equity for the year HIGHLIGHT CONSTRUCTION COMPANY Statement of Stockholders' Equity At December 31, Current Year Common Stock Balance January 1, Current year Retained Earnings Balance December 31, Current year