On December 31, 2008, WER Productions reported $100,000 of contributed capital and $20,000 of retained earnings. During 2009, the company had the following transaction. Prepare a Statement of stockholders’ equity for the year ended December 31, 2009.
1. Issued stock for $50,000.
2. Declared and paid a cash dividend of $5,000.
3. Reported total revenue of $120,000 and total expense of $87,000.
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