Begin by completing Walton's single-step income statement for the current year, one section at a time. (Use a minus sign or parentheses for a net loss. Remember to ignore taxes.) Walton, Inc. Statement of Net Income For the Year Ended December 31 Hill Net Income (loss) Now, prepare the stockholders' equity section of the balance sheet at December 31 of the current year. (Use parentheses or a minus sign for numbers to be subtracted. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) Stockholders' Equity Total Stockholders' Equity Account Depit Credit Loss on disposal of plant assets $ 690 Dividends 820 550,900 Cost of goods sold Selling expenses 74,600 Dividend income $ 70 Advertising expense 37,900 Office salaries expense 6,050 98,250 Depreciation expense Loss on asset impairment Accounting and legal fees 3,150 12,270 Interest income 950 Unrealized loss on available-for-sale bonds before tax 420 Interest expense 9,430 Sales 776,500 350,150 Retained earnings: beginning balance Accumulated other comprehensive loss: beginning balance Common stock - no par: beginning balance 6,000 81,500