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Lady Bug Products, Inc.
Trial Balance (Partial)
For the Year Ended December 31
Account	Debit	Credit
Retained Earnings, Beginning Balance		$3,800,000
Accumulated Other Comprehensive Income, Beginning Balance		101,000
Dividends	$84,000
Sales		3,400,000
Interest Income		46,000
Dividend Income		20,000
Gain on Disposal of Plant Assets		106,000
Unrealized Gain on Trading Investments		94,000
Unrealized Gain on Available-for-Sale Bonds before Tax		63,000
Gain due to Flood Damage before Tax		127,000
Cost of Goods Sold	775,000
Selling Expenses	22,000
Office Supplies Expense	127,000
Amortization Expense	38,000
Sales Salaries Expense	69,000
Advertising Expense	78,000
Office Salaries Expense	96,000
Depreciation Expense	76,000
Accounting and Legal Fees	10,500
Systems Consulting Fees	56,000
Interest Expense	35,000
Loss on Asset Impairment	22,000
Loss on Sale of Discontinued Operations before Tax	108,000

Lady Bug Products, Inc. provided the following information from its current-year trial balance. (Click the icon to view the year-end trial balance.) Lady Bug issued $370,000 of no-par common stock on June 30 of the current year. The company is subject to a 40% income tax rate. The beginning balance in common stock was $1,625,000. Read the Requirement Prepare a statement of stockholders' equity for the year ended December 31. Note: You will need to solve for net income using the given information. (If an input field is not used in the statement, leave the input field empty; do not enter a zero. Use a minus sign or parentheses for a loss or to show a decrease in any of the accounts.)

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