Hi I had this Question answered but I don’t understand where they got the $300 balance in common stock. Can you explain that for me
Extracted text: Net Income 35,000 Step 2 Answer: FIGHTIN' BLUE HENS CORPORATION Statement of Stockholders' Equity for the year ended December 31, 2021 Total Common Retained Particulars Shareholders' Stock Earnings Equity Balance at January 1 300,000 $ 60,000 S 360,000 add: Net Income 2$ 35,000 $ 35,000 Balance at December 31 300,000 S 95,000 395,000 Was this solution helpful? APR 27 W esc F2 F3 F4 F6 #3 %24 4. W R
![[The following information applies to the questions displayed below.]<br>The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented be<br>AccountS<br>Debit<br>Credit<br>Cash<br>12,000<br>150,000<br>6,000<br>30,000<br>400,000<br>Accounts Receivable<br>Prepaid Rent<br>Supplies<br>Equipment<br>Accumulated Depreciation<br>Accounts Payable<br>Salaries Payable<br>Interest Payable<br>Notes Payable (due in two years)<br>$ 135,000<br>12,000<br>11,000<br>5,000<br>40,000<br>300,000<br>60,000<br>500,000<br>Common Stock<br>Retained Earnings<br>Service Revenue<br>Salaries Expense<br>Rent Expense<br>Depreciation Expense<br>Interest Expense<br>400,000<br>20,000<br>40,000<br>5,000<br>Totals<br>$1,063,000<br>$1,063,000<br>2. Prepare a statement of stockholders' equity for the year ended December 31, 2021, assuming no common st<br>2021.<br>< Prev<br>4<br>of 4<br>Next ><br>APR<br>27<br>W<br>F2<br>F3<br>F4<br>F5<br>F6<br>F7<br>](https://s3.us-east-1.amazonaws.com/storage.unifolks.com/qimg-008/008_htlpzp0-thyatfhm.jpeg)
Extracted text: [The following information applies to the questions displayed below.] The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented be AccountS Debit Credit Cash 12,000 150,000 6,000 30,000 400,000 Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) $ 135,000 12,000 11,000 5,000 40,000 300,000 60,000 500,000 Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense 400,000 20,000 40,000 5,000 Totals $1,063,000 $1,063,000 2. Prepare a statement of stockholders' equity for the year ended December 31, 2021, assuming no common st 2021. < prev="" 4="" of="" 4="" next=""> APR 27 W F2 F3 F4 F5 F6 F7