Clints Stonework Corporation was organized on January 1 2015

Clint\'s Stonework Corporation was organized on January 1, 2015. For its first two years of operations, it reported the following Net income for 2015 Net income for 2016 Dividends for 2015 Dividends for 2016 Total assets at the end of 2015 Total assets at the end of 2016 Common stock at the end of 2015 Common stock at the end of 2016 $ 31,800 42,800 13,300 18,400 131,000 263,000 90,000 90,000 Requirec On the basis of the data given, prepare a statement of stockholders\' equity for 2016. CLINT\'S STONEWORK CORPORATION Statement of Stockholders\' Equity For the Year Ended December 31, 2016 Common Stock Retained Earnings $ Balance December 31, 2015 90,000 42,800 18,400 24,400 Add: Net income ess: Dividends Balance December 31, 2016 $ 90,000 S

Solution

Common Stock Retained Earnings Balance December 31,2015 90000 18500 =31800-13300 Add: Net income 0 42800 Less: Dividends 0 18400 Balance December 31,2016 90000 42900