Statement of Stockholders Equity and Balance Sheet

The following is balance sheet information for Lynch Janitorial Service, Inc., at the end of 2016 and 2015:

	December 31, 2016	December 31, 2015
Accounts Payable	$6,000	$9,000
Cash	25,000	22,000
Accounts Receivable	39,000	31,000
Land	46,000	46,000
Building, net	250,000	260,000
Equipment, net	44,000	46,000
Mortgage Payable	93,000	103,000
Supplies	18,000	16,000
Common Stock	225,000	225,000
Dividends	12,000	0
Retained Earnings	?	?

Required

a. Prepare a balance sheet as of December 31 of each year.

LYNCH JANITORIAL SERVICE, INC. Balance Sheet
		December 31, 2016	December 31, 2015
	ASSETS
	AnswerAccounts PayableAccounts ReceivableCashCommon StockDividendsEquipmentLandMortgage PayableRetained EarningsSuppliesBuilding	$Answer	$Answer
	Accounts Receivable	Answer	Answer
	Supplies	Answer	Answer
	Land	Answer	Answer
	AnswerAccounts PayableAccounts ReceivableCashCommon StockDividendsEquipmentLandMortgage PayableRetained EarningsSuppliesBuilding	Answer	Answer
	Equipment	Answer	Answer
	Total Assets	$Answer	$Answer
	LIABILITIES
	Accounts Payable	$Answer	$Answer
	AnswerAccounts PayableAccounts ReceivableCashCommon StockDividendsEquipmentLandMortgage PayableRetained EarningsSuppliesBuilding	Answer	Answer
	Total Liabilities	$Answer	$Answer
	STOCKHOLDERS' EQUITY
	AnswerAccounts PayableAccounts ReceivableCashCommon StockDividendsEquipmentLandMortgage PayableRetained EarningsSuppliesBuilding	$Answer	$Answer
	AnswerAccounts PayableAccounts ReceivableCashCommon StockDividendsEquipmentLandMortgage PayableRetained EarningsSuppliesBuilding	Answer	Answer
	Total Stockholders' Equity	$Answer	$Answer
	Total Liabilities and Stockholders' Equity	$Answer	$Answer

b. Prepare a statement of stockholders equity for 2016. (Hint: The increase in retained earnings is equal to the net income less the dividend.)

LYNCH JANITORIAL SERVICE, INC. Statement of Stockholders Equity For Year Ended December 31, 2016
	Common Stock	Retained Earnings	Total
Balance, December 31, 2015	$Answer	$Answer	$Answer
Add: Net income for 2016	Answer	Answer	Answer
Less: Dividends for 2016 (Enter as negative)	Answer	Answer	Answer
Balance, December 31, 2016	$Answer	$Answer	$Answer