At the beginning of year 1, a company reported a balance in common stock of $169,000 and a balance in retained earnings of $69,000. during the year, the company issued additional shares of stock for $59,000, earned net income of $49,000, and paid dividends of $11,900. in addition, the company reported balances for the following assets and liabilities on december 31. assets liabilities cash $ 54,500 accounts payable $ 16,100 supplies 12,800 utilities payable 6,200 prepaid rent 33,500 salaries payable 5,400 land 295,000 notes payable 34,000 required: prepare a statement of stockholders’ equity. prepare a balance sheet.
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At the beginning of year 1, a company reported a balance in common stock of $169,000 and a balance i...
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