Plummer Stonework Corporation was organized on January 1, 2017. For its first two years of operations,...

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Plummer Stonework Corporation was organized on January 1, 2017. For its first two years of operations, it reported the follow

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Answer 1

Answer #1

Plummer Stonework Corporation

Statement of Stockholders Equity

For the Year Ended 2018

Particulars	Common Stock	Retained Earnings
Balance December 31,2017	100,000	15,900
Add: Net Income for Year 2018	-	43,500
Less: Dividends paid for Year 2018	-	17,500
Balance December 31,2018	100,000	41,900

Notes

Retained Earnings Balance as on Dec 31,2017 = Net Income for Year 2017 - Dividends for Year 2017

= 30,500 - 14,600

= $ 15,900

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Answer 2

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