What would be the beginning retained earning of those statement of changes in stockholders equity?

1. Acquired $72,000 cash from the issue of common stock. 2. Borrowed $26,000 from the First City Bank. 3. Earned $59,000 of cash revenue. 4. Incurred $43,000 of cash expenses. 5. Paid a $7,000 cash dividend. 6. Paid $43,000 to purchase land. Required Prepare a statement of changes in stockholders' equity. OLLIE COMPANY Statement of Changes in Stockholders' Equity For the Period Ended December 31, Year 1 Beginning common stock Plus: Common stock issued Ending common stock Beginning retained earnings Plus: Net income Ending retained earnings 0 72,000 S 72,000 16,000 25,000 (7,000) $ 90,000 ess: Dividends Total stockholders' equity