The following selected accounts and their current balances appear in the ledger of Fernandez Co. at the end of its fiscal year.

Cash	$250,000	Retained Earnings	$2,850,000
Accounts Receivable	1,197,000	Dividends	50,000
Inventory	1,790,000	Sales	9,350,000
Estimated Returns Inventory	23,500	Cost of Goods Sold	5,840,000
Office Supplies	14,000	Sales Salaries Expense	820,000
Prepaid Insurance	8,500	Advertising Expense	350,000
Office Equipment	870,000	Depreciation Expense-Store Equipment	120,000
Accumulated Depreciation-Office Equipment	580,000	Miscellaneous Selling Expense	58,000
Store Equipment	2,600,000	Office Salaries Expense	550,000
Accumulated Depreciation-Store Equipment	820,000	Rent Expense	104,000
Accounts Payable	336,000	Depreciation Expense-Office Equipment	60,000
Customer Refunds Payable	39,000	Insurance Expense	50,000
Salaries Payable	43,000	Office Supplies Expense	26,000
Notes Payable (long-term)	200,000	Miscellaneous Administrative Expense	12,000
Common Stock	600,000	Interest Expense	25,000

Required

Prepare a multiple-step income statement for Fernandez Co. for the year ended December 31. Be sure to complete the statement heading. Refer to the account names in the instructions and the lists of Labels and Amount Descriptions for the exact wording of text entries. A colon (:) will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

The following selected accounts and their current balances appear in the ledger of Fernandez Co. at the end of its fiscal year.

Cash	$250,000	Retained Earnings	$2,850,000
Accounts Receivable	1,197,000	Dividends	50,000
Inventory	1,790,000	Sales	9,350,000
Estimated Returns Inventory	23,500	Cost of Goods Sold	5,840,000
Office Supplies	14,000	Sales Salaries Expense	820,000
Prepaid Insurance	8,500	Advertising Expense	350,000
Office Equipment	870,000	Depreciation Expense-Store Equipment	120,000
Accumulated Depreciation-Office Equipment	580,000	Miscellaneous Selling Expense	58,000
Store Equipment	2,600,000	Office Salaries Expense	550,000
Accumulated Depreciation-Store Equipment	820,000	Rent Expense	104,000
Accounts Payable	336,000	Depreciation Expense-Office Equipment	60,000
Customer Refunds Payable	39,000	Insurance Expense	50,000
Salaries Payable	43,000	Office Supplies Expense	26,000
Notes Payable (long-term)	200,000	Miscellaneous Administrative Expense	12,000
Common Stock	600,000	Interest Expense	25,000

Required:

Prepare a statement of stockholders' equity for Fernandez Co. Additional common stock of $100,000 was issued during the year. Refer to the Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If a net loss is incurred or there is a decrease in stockholders' equity, enter that amount as a negative number using a minus sign. Entries of 0 (zero) are not required and will be cleared if entered.