Statement of stockholders equity Scott Lockhart owns and operates AAA Delivery Services. On January 1, 20Y7, Common Stock had a balance of $50,000, and Retained Earnings had a balance of $811,500. During the year, no additional common stock was issued, and $10,000 of dividends were paid. For the year ended December 31, 20Y7, AAA Delivery reported a net income of $65,500. Prepare a statement of stockholders' equity for the year ended December 31, 20Y7. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. AAA Delivery Services Statement of Stockholders' Equity For the Year Ended December 31, 20Y7 Common Stock Retained Earnings Total Balances, January 1, 20Y7 500,000 X Net income Dividends Balances, December 31, 20Y7 Feedback Check My Work The statement of stockholders' equity shows the beginning balances of common stock and retained earnings. The common stock balance will be increased by any stock issued during the period, and retained earnings will be increased by any net income and decreased by any net losses and dividends