At the beginning of the year (january 1), buffalo drilling has $10,000 of common stock outstanding and retained earnings of $7,500. during the year, buffalo reports net income of $7,800 and pays dividends of $2,500. in addition, buffalo issues additional common stock for $7,300. required: prepare the statement of stockholders' equity at the end of the year (december 31).

Explanation:

For preparing the statement, first we have to compute the ending balance of the common stock and the retained earning

Ending balance of the common stock = Beginning balance + Additional common stock issued

= $10,000 + $7,300

= $17,300

Ending balance of the retained earnings = Beginning balance + Net income - dividend paid

= $7,500 + $7,800 - $2,500

= $12,800

So, the total stockholder equity = Ending balance of the common stock + Ending balance of the retained earnings

= $17,300 + $12,800

= $30,100

The statement of stockholder equity is shown in the spreadsheet. Kindly find the attachment below.

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