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Romney's Marketing Company has the following adjusted trial balance at the end of the current year. No dividends were declared. However, 620 shares (50.10 par

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Romney's Marketing Company has the following adjusted trial balance at the end of the current year. No dividends were declared. However, 620 shares (50.10 par value per share) issued at the end of the year for $2,880 are included below: Debit Credit Cash $ 1,670 Accounts receivable 2,390 Interest receivable 270 Prepaid insurance 1,730 Notes receivable (long-term) 2,810 Equipment 15.300 Accumulated depreciation $ 2,950 Accounts payable 2,310 Accrued expenses payable 3,890 Income taxes payable 2,700 Uneamed rent revenue 500 Common Stock (840 shares) 84 Additional paid-in capital 3,616 Retained earnings 3,460 Sales revenue 37,550 Interest revenue 170 Rent revenue 73 Wages expense 18,300 Depreciation expense 1,800 Utilities expense 400 Insurance expense Rent expense 9,800 Income tax expense 2.760 Total 57960 57,960 730 Prepare a statement of stockholders' equity in good form for the current year. ROMNEY'S MARKETING COMPANY Statement of Stockholders' Equity Common Stock Additional Paid-in Capital Retained Earnings Total Stockholders Equity $ $ 798 $ 3,460 Balance, January 1 Share issuance Net income 22 62 2,818 Balance, December 31 $ 84 $ 3,616

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