Statement of Stockholders' Equity On January 1, the credit balance of the Retained Earnings account was $51,000 The company's Common Stock account had an opening balance of $65,000. $7,000 in new capital contributions were made during the year On December 31, at year-end, the Dividends account had a debit balance of $10,500 before closing. The income statement shows net income of $30,500. Prepare a Statement of Stockholders' Equity for Strife & Company, architectural design firm. STRIFE & COMPANY Statement of Stockholders' Equity Common Stock Retained Earnings Total Balance, January 1 Add: Capital contributed during the year Net Income for the year Less: Dividends paid (enter as negative) 0 $ Balance, January 31 Check