Question 8 Client Stonework corporation was organized on January 1, 2015. For its first two years of operations, it reported the following.

Net Income for 2015 $31,000

Net income for 2016 $42,000

Dividends for 2015 $14,200

Dividends for 2016 $18,700

Total assets at the end of 2015 $130,000

Total assets at the end of 2016 $250,000

Common sock at the end of 2015 $100,000

Common stock at the end of 2016 $100,000

On the basis of data given, prepare a statement stockholders equity for 2016.

Clint's Stonework Corporation

Statement of Stockholder Equity

For the Year Ended December 31, 2016

Common Stoclk Retained Earning

Balance December 31, 2015 100,000 16,800

Balance December 31, 2016