Question - E. Flynn Company had $104,000 of contributed capital and $54,000 of retained earnings at January 1, 2014. The following transactions occurred during the year 2014:
Issued stock to investors for cash, $35,000.
Declared and paid a cash dividend of $21,000.
Reported total revenue of $149,000 and total expenses of $90,000.
Prepare a statement of stockholders' equity for the year ended December 31, 2014.