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.