Answer:
Closing balance of equity = $30,700
Please refer answer for statement.
Explanation:
Provided information we have,
Opening balances as follows:
Common Stock Outstanding = $10,000
Retained Earnings = $7,800
Net income for the year = $8,100,
Dividends for the year = $2,800
Thus, net income added to retained earnings = $8,100 - $2,800 = $5,300
Additional common stock issued = $7,600
Statement of Stockholder's equity
Total Common Stock issued = $7,600
Earnings Retained = $5,300 = $5,300
Stockholder's Equity beginning balance = Equity + retained earnings = $10,000 + $7,800 = $17,800
Closing balance of equity = $30,700