Question

At the beginning of 2018, Artichoke Academy reported a balance in common stock of $152,000 and a balance in retained earnings of $52,000. During the year, the company issued additional shares of stock for $42,000, earned net income of $32,000, and paid dividends of $10,200. In addition, the company reported balances for the following assets and liabilities on December 31. $ 10.5 points Assets Cash Supplies Prepaid rent Land Liabilities $ 52,800 Accounts payable 11,100 Utilities payable 25,000 Salaries payable 210,000 Notes payable 7.600 2,800 3,700 17,000 eBook References Required: 1. Prepare a statement of stockholders' equity. ARTICHOKE ACADEMY ARTICHOKE ACADEMY Statement of Stockholders' Equity Retained Common Stock Earnings Beginning balance $ 152,000 $ 52,000 Issuance of common stock 42,000 Add: Net income 32,000 Less: Dividends (10,200) Ending balance 194,000 $ 73,800 Total Stockholders' Equity $ 204,000 42,000 32,000 / / 69/ $ 267,800 /

prepare balance sheet with above info (check if my numbers are correct thankyou) below I have opened the drop downs to give you all the options

Answer 1

Answer
1
statement of stockholder's equity
		common stock	retained earning	total stockholder equity
balance at beginning		$    152,000	$        52,000	$             204,000
issuance of common stock		$      42,000		$               42,000
add: net income			$        32,000	$               32,000
less: dividend			-$        10,200	-$               10,200
balance at the end		$    194,000	$        73,800	$             267,800

2
2) Balance sheet
Assets		liabilities
Cash	$        52,800	accounts payable	$            7,600
supplies	$        11,100	utilities payable	$            2,800
prepaid rent	$        25,000	salaries payable	$            3,700
Land	$      210,000	Notes payable	$          17,000
		total liabilities	$          31,100
		stockholders equity
		common stock	$     1,940,000
		retained earning	$          73,800
		total stockholder equity	$        267,800
Total Assets	$      298,900	Total liabilities & equity	$        298,900