mework i Saved Help Save & Exit Submi Check my work Exercise 1-7A Prepare a statement of stockholders' equity (L01-3) At the beginning of the year (January 1), Buffalo Drilling has $11,000 of common stock outstanding and retained earnings of $7,300. During the year, Buffalo reports net income of $7,600 and pays dividends of $2,300. In addition, Buffalo issues additional common stock for $7,100. d Required: Prepare the statement of stockholders' equity at the end of the year (December 31). k BUFFALO DRILLING Statement of Stockholders' Equity For the Year Ended December 31 t ces Common Stock Retained Earnings Total Stockholders' Equity Beginning balance Ending balance 12