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The company has the following beginning balances in its stockholders' equity accounts on January 1 , 2 0 2 4 : Common Stock, $ 1

The company has the following beginning balances in its stockholders\' equity accounts on January

1, 2024

: Common Stock, $

100, 000

;Additional Paid

-

in Capital, $

3, 700, 000

; and Retained Earnings, $

1, 200, 000 .

Net income for the year ended December

31, 2024,

is $

520, 000 .

Required: Prepare the stockholders\' equity section of the balance sheet for the company as of December

31, 2024 . (

Amounts to be deducted should be indicated by a minus sign.

)

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