The instructions are as follows:

Prepare a statement of stockholders' equity for the year

ending December 31. Note: You will need to solve for

net income using the given information.

Bluebird Products, Inc.

Trial Balance (Partial)

For the Year Ended December 31

Account Debit Credit

Retained Earnings, Beginning Balance $3,200,950

Accumulated Other Comprehensive Income, Beginning

Balance 95,675

Dividends $76,500

Sales 2,200,000

Interest Income 34,500

Dividend Income 12,300

Gain on Disposal of Plant Assets 100,500

Unrealized Gain on Trading Investments 86,000

Unrealized Gain on Available-for-Sale Bonds Before Tax

45,600

Gain due to Flood Damage Before Tax 109,000

Bluebird Products, Inc.

Trial Balance (Partial)

For the Year Ended December 31

Account Debit Credit

Cost of Goods Sold $750,000

Selling Expenses 20,000

Office Supplies Expense 123,500

Amortization Expense 34,500

Sales Salaries Expense 55,000

Advertising Expense 68,900

Office Salaries Expense 78,500

Depreciation Expense 68,000

Accounting and Legal Fees 10,425

Systems Consulting Fees 44,550

Interest Expense 23,750

Loss on Asset Impairment 12,350

Loss on Sale of Discontinued Operations Before Tax

90,000

Bluebird issued $345,000 of no-par common stock on

June 30 of the current year. The company is subject

to a 40% income tax rate. The beginning balance in

common stock was $1,456,000.

Bluebird Products, Inc. Components of Net Income from the Unadjusted Trial Balance For the Year Ended December 31 \begin{tabular}{|l|l|l|l|l|l|l|} \hline Account & Debit & Credit \\ \hline 39 & & & \end{tabular} Bluebird Products, Inc. Statement of Stockholders' Equity For the Current Year Ended December 31