(Answered) Question following is selected financial information for

Accounting

Question: Following is selected financial information for Sandra Company for 2016 and 2017:

2016 2017

Retained earnings, January 1 $53,000 ?

Net income 37,000 42,000

Dividends declared and paid 15,000 18,000

Capital stock 70,000 ?

The company issued 2,000 shares of additional capital stock in 2017 for $20,000. There were no other capital transactions.

Required: Prepare a statement of shareholders' equity for the company in good form for the year ended December 31, 2017.

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