# 5 stockholders equity

TO U mework Saved Help Save & ER Subm Check my work On December 31, Year 1, a company reports the following revenues and expenses. Service revenue Pontage expense Legal fees expense $71,000 1,100 2,100 Rent expense Salaries expense Supplies expense 10,000 19,000 10.000 In addition, the balance of common stock at the beginning of the year was $150,000, and the balance of retained earnings was $26,000. During the year, the company issued additional shares of common stock for $20,000 and paid dividends of $10,000. Required: 1. Prepare an income statement 2. Prepare a statement of stockholders' equity. Complete this question by entering your answers in the tabs below. income Statement Stmt of Stockholders Equity 5 Check my works Complete this question by entering your answers in the tabs below. Income Stmt of Statement Stockholders Equity Prepare a statement of Stockholders' Equity ook Print rences Statement of Stockholders' Equity For the Year Ended December 31, Year 1 Retained Common Stock Earnings + Beginning Balance $ 150.000 Issuance of Common Stock 20,000 Total Stockholders Equity Less: Dividends Ending Balance 170,000