On December 31 Fighting Okra Cooking Services reports the following
On December 31, Fighting Okra Cooking Services reports the following revenues and expenses.


In addition, the balance of common stock at the beginning of the year was $ 200,000, and the balance of retained earnings was $ 32,000. During the year, the company issued additional shares of common stock for $ 25,000 and paid dividends of $ 10,000.

Required:
1. Prepare an income statement.
2. Prepare a statement of stockholders’equity.
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