4 Assets Cash At the beginning of 2024, Ellingham Academy reported a balance in common stock of $158,000 and a balance i

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4 Assets Cash At The Beginning Of 2024 Ellingham Academy Reported A Balance In Common Stock Of 158 000 And A Balance I 1 (58.79 KiB) Viewed 61 times

4 Assets Cash At the beginning of 2024, Ellingham Academy reported a balance in common stock of $158,000 and a balance in retained earnings of $58,000. During the year, the company issued additional shares of stock for $48,000, earned net income of $38,000, and pald dividends of $10,800. In addition, the company reported balances for the following assets and liabilities on December 31. Liabilities $53,400 Accounts payable $10,600 Supplies 11,700 Utilities payable 4,000 Prepaid rent 28,000 Salaries payable 240,000 Notes payable 23,000 Required: 1. Prepare a statement of stockholders' equity. 2. Prepare a balance sheet. 4.300 Land 01:26 Complete this question by entering your answers in the tabs below. Stmt of Stockholders Balance Sheet Equity Prepare a statement of stockholders' equity. ELLINGHAM ACADEMY Statement of Stockholders' Equity For the Year Ended December 31, 2024 Common Retained Stock Earings Total Stockholders Equity Beginning Balance Ending Balance Stof Stockholders Equity Balance Sheet >