Statement of Stockholders' Equity On January 1, the credit balance of the Retained Earnings account was $48,000. The company's Common Stock account had an opening balance of $70,000. $6,000 in new capital contributions were made during the year. On December 31, at year-end, the Dividends account had a debit balance of $9,700 before closing. The income statement shows net income of $29,900. Prepare a Statement of Stockholders' Equity for Strife & Company, architectural design firm. STRIFE & COMPANY Statement of Stockholders' Equity For Year Ended December 31 Common Stock Retained Earnings Total Balance, January 1 $ $ 0 $ 0 Add: Capital contributed during the year 0 0 0 Net Income for the year 0 0 0 Less: Dividends paid (enter as negative) 0 0 0 Balance, January 31 $ 0 $ 0 $ Check