Question: Reporting Changes in Stockholders Equity Items On May 1, 2009, Ryde Inc. had common stock of $345,000, additional paid-in capital of $1,298,000, and retained earnings

Reporting Changes in Stockholders’ Equity Items On May 1, 2009, Ryde Inc. had common stock of $345,000, additional paid-in capital of $1,298,000, and retained earnings of $3,013,000. Ryde did not purchase or sell any common stock during the year. The company reported net income of $556,000 and declared dividends in the amount of $78,000 during the year ended April 30, 2010.

Required

Prepare a financial statement that explains the differences between the beginning and ending balances for the accounts in the Stockholders’ Equity category of the balance sheet.

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