Prepare the statement of stockholders’ equity, note that during the year the company issued additional common stock of $12,000. This amount is included in the amount for Common Stock in the adjusted trial balance.

RUSSELL ENGINEERING
Adjusted Trial Balance
December 31, 2024
Accounts	Debits	Credits
Cash	$  4,300
Accounts Receivable	3,300
Supplies	1,300
Prepaid Rent	5,300
Buildings	103,000
Accumulated Depreciation		$  20,300
Accounts Payable		2,300
Salaries Payable		3,300
Utilities Payable		1,200
Notes Payable (due in four years)		13,000
Common Stock		43,000
Retained Earnings		14,300
Service Revenues		116,900
Salaries Expense	41,300
Rent Expense	17,300
Depreciation Expense	6,300
Supplies Expense	7,300
Advertising Expense	12,300
Utilities Expense	11,300
Interest Expense	1,300
Totals	$ 214,300	$ 214,300

Prepare the classified balance sheet for the year ended December 31, 2024.

Answer rating: 100% (QA)

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