Statement of stockholders' equity The revenues and expenses of Paradise Travel Service for the year ended May 31, 20Y6, follow: Fees earned Office expense $900,000 300,000 Miscellaneous expense Wages expense 15,000 450,000 Everett McCauley invested an additional $40,000 in the business in exchange for common stock, and $10,000 of dividends were paid during the year. Common stock had a balance of $60,000 and retained earnings had a balance of $300,000 as of June 1, 20Y5. Prepare a statement of stockholders' equity for the year ended May 31, 2016. Paradise Travel Service Statement of Stockholders' Equity For the Year Ended May 31, 20Y6 Balances, June 1, 2015 Issued common stock Common Stock Retained Earnings Total 60,000 300,000 360,000 40,000 0 40,000 0 135,000 135,000 0 10,000 10,000 Net income Dividends Balances, May 31, 20Y6 100,000