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The December 31, Year 1, adjusted trial balance for a company is presented below.

Accounts	Debit				Credit
Cash	$	10,300
Accounts Receivable		133,000
Prepaid Rent		4,300
Supplies		21,500
Equipment		230,000
Accumulated Depreciation					$	118,000
Accounts Payable						10,300
Salaries Payable						9,300
Interest Payable						3,300
Notes Payable (due in two years)						23,000
Common Stock						130,000
Retained Earnings						43,000
Service Revenue						330,000
Salaries Expense		230,000
Rent Expense		11,500
Depreciation Expense		23,000
Interest Expense		3,300
Totals	$	666,900			$	666,900

2. Prepare a statement of stockholders' equity for the year ended December 31, Year 1, assuming no common stock was issued during Year 1.

Answer is not complete. Statement of Stockholders' Equity For the Year Ended December 31, Year 1 Common Stock Retained Earnings $ Balance at January 1 Add: Net Income Less: Dividends 43,000 62,200 Total Stockholders' Equity $ 43,000 X 62,200 0 $ 105,200 X Balance at December 31 $ 105,200