- 4 At The Beginning Of 2024 Ellingham Academy Reported A Balance In Common Stock Of 158 000 And A Balance In Retained 1 (51.62 KiB) Viewed 50 times
4. 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 paid dividends of $10,800. In addition, the
company reported balances for the following assets and liabilities on December 31 Авата Liabilitie Cash 553,400 Accounts payable 510,600 Supplies 11,700 Utilities payable 4,000 Prepaid rent 28,000 salaries payable 4,300 Land 240,000 Notes payable 23,000 Required: 40 points 00 55.00 1. Prepare a
statement of stockholders' equity 2. Prepare a balance sheet Complete this
question by entering your answers in the tabs below. Stmt of Stockholders Balance Sheet Equity Prepare a balance sheet ELLINGHAM ACADEMY Balance Sheet December 31, 2024 Assets Liabilities Total Liable Stockholders' Equity Total Stockholders' Equty Total Liabilities and Stockholders' Equity 0 0 Total Assets $ <Simt of Stockholders Equity