PLEASE COMPLETE BOTH SECTIONS.

Exercise 1-11A Link the statement of stockholders' equity to the balance sheet (L01-3) At the beginning of 2021, Artichoke Academy reported a balance in common stock of $163,000 and a balance in retained earnings of $63,000. During the year, the company issued additional shares of stock for $53,000, earned net income of $43,000, and paid dividends of $11,300. In addition, the company reported balances for the following assets and labilities on December 31 Assets Cash Supplies Prepaid rent Land $ 53,900 12,200 30,500 265,000 Liabilities Accounts payable Utilities payable Salarice payable Notes payable $13, 100 5,000 4,800 28,000 Required: 1. Prepare a statement of stockholders' equity. 2. Prepare a balance sheet. ARTICHOKE ACADEMY Statement of Stockholders' Equity For the Year Ended December 31, 2021 Retained Total Common Stock Earnings Stockholders Equity Beginning Balance $ 163,000 $ 63,000 $ 226,000 Issuance of Common Stock 53,000 53,000 Add: Net income 43,000 43,000 Less: Dividends 11,300 11,300 Ending Balance 216,000 $ 94.700 $ 310,700 ARTICHOKE ACADEMY Balance Sheet December 31, 2021 Assets Llabilities Cash Supplies Prepaid Rent Land 53,900 Accounts payable 12,200 Utilities Payable 30,500 Salaries Payable 265,000 Notes Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Total Assets $ oo 361,600 S