Statement of stockholders equity. The revenues and expenses of Paradise Travel Service for the year end May 31, 2016, follow: Fees earned=$900,000, Office Equipment=$300,000, Miscellaneous Expense=$15,000, Wages Expense=$450,000. Everett McCauley invested an additional $40,000 in the business and 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, 2015. Prepare the a statement of stockholders equity for the year ended May 31, 2016.

Balances, 6/1/2015- common stock=60000, retained earnings=300000, total=360000

Issued common stock-common stock=40000, retained earning=0, total=40000

Net income-?

Dividends- common stock=0, retained earnings=10000, total=10000

Balances, 5/31/2016-?