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Problem 1-2 Puppet Corporation began with an investment by shareholders of $22,000 o. In its...

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Problem 1-2 Puppet Corporation began with an investment by shareholders of $22,000 o. In its first year, the income earned was $2,200. What would the equity section of its balance sheet show at year end? Common stock Retained earnings $ 22000 2200 Total Stockholders' Equity 24200 b. In the second year, it had income of $9,200 and a dividend of $3,200 was paid. What would the equity section of its balance sheet show at year end? Common stock Retained earnings $ Total Stockholders' Equity C. In the third year, Puppet sold more shares for a value of $11,000. earned income of $5 200, and paid a dividend of $2.700. What would the equity section of its balance sheet show at year end? Common stock Retained earnings $ Total Stockholders' Equity $

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