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Each of the following independent situations represents amounts shown on the four basic financial statements. theal plac 1. Revenues - $24,600; Expenses = $16,800, Net Income 2. Increase in stockholders' equity - $16,000; Issuance of common stock - $10,000 Net Income = $10,800: Dividends 3. Assets = $22,800; Stockholders' equity - $17,000; Liabilities 4. Total change in cash = $23,600; Net operating cash flows - $31,600; Net Investing cash flows - ($14,600); Net financing eash flows 10 Required: Fill in the formulas and missing blanks using your knowledge of amounts that appear on the financial statements. 1 2 3 4. 5 10.5 points At the beginning of 2024, Ellingham Academy reported a balance in common stock of $158,000 and a balance in retained earnin $58,000. During the year, the company issued additional shares of stock for $48,000, earned net income of $38,000, and paid dividends of $10,800. In addition, the company reported balances for the following assets and liabilitles on December 31. Assets Triabilities Cash $53,400 Accounts payable $10,600 Supplies -11,700 Utilities payable 4,000 Prepaid rent 28,000 Salaries payable 4,300 Land 240.000 Notes payable 23,000 Required: 1. Prepare a statement of stockholders' equity. 2. Prepare a balance sheet. Skipped Book Complete this question by entering your answers in the tabs below. References Stmt of Stockholders Balance Sheet Equity Prepare a statement of stockholders' equity. ELLINGHAM ACADEMY Statement of Stockholders' Equity For the Year Ended December 31, 2024 Common Retained Stock Earnings Total Stockholders Equity Beginning Balance Ending Balance $ 0 $ 0 $ Stmt of Stockholders Balance Sheet Equity Prepare a balance sheet. ELLINGHAM ACADEMY Balance Shoot December 31, 2024 Assets Liabilities Total Liabilities 0 Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity 0 Total Assets $ $ 0 Required 1 Required 2 4 Prepare a statement of cash flows. (Cash outflows should be indicated by a minus sign.) 10.5 points DERY TRADE Statement of Cash Flows Cash Flows from Operating Activities Cash inflows: Skipped eBook Cash outflows: References $ 0 Net cash flows from operating activities Cash Flows from Investing Activities 0 Net cash flows used in investing activities Cash Flows from Financing Activities Net cash flows from financing activities 0 Cash at the beginning of the year Cash at the end of the year