Answer:
Artichoke Academy
Statement of Stockholders’ Equity
For the Year Ended December 31, 2021
Beginning balance Common Stock $164,000
<u>Beginning balance retained earnings $64,000</u>
Subtotal $228,000
Common Stock issued $54,000
Earned net income $44,000
<u>Distributed dividends ($11,400)</u>
Ending balance Common Stock $218,000
<u>Ending balance retained earnings $96.600</u>
Total Stockholders' Equity December 31, 2021: $314,600
Artichoke Academy
Balance Sheet
For the Year Ended December 31, 2021
Assets:
Cash $54,000
Prepaid rent $31,000
Supplies $12,300
Land $270,000
Total assets: $367,300
Liabilities and stockholders' equity:
Accounts payable $13,600
Utilities payable $5,200
Salaries payable $4,900
Notes payable $29,000
Common stock $218,000
Retained earnings $96,600
Total liabilities and stockholders' equity: $367,300
