Prepare a statement of stockholders' equity (L01-3) E1-7 At the beginning of the year (January 1), Buffalo Drilling has $11,000 of common stock outstanding and retained earnings of $8,200. During the year, Buffalo reports net income of $8,500 and pays dividends of $3,200. In addition, Buffalo issues additional common stock for $8,000. Required Prepare the statement of stockholders' equity at the end of the year (December 31)