Statement of stockholders’ equity The revenues and expenses of Paradise Travel Service for the year ended May 31, 20Y6, follow:

Fees earned $900,000
Office expense 300,000
Miscellaneous expense 15,000
Wages expense 450,000
Everett McCauley invested an additional $40,000 in the business in exchange for common stock, and $10,000 of dividends were paid during the year. Common stock had a balance of $60,000 and retained earnings had a balance of $300,000 as of June 1, 20Y5.

Prepare a statement of stockholders’ equity for the year ended May 31, 20Y6.

Paradise Travel Service
Statement of Stockholders’ Equity
For the Year Ended May 31, 20Y6
Common Stock Retained Earnings Total

Balances, June 1, 20Y5 $fill in the blank 2$fill in the blank 3$fill in the blank 4
Issued common stock fill in the blank 6 fill in the blank 7 0 fill in the blank 8
Net income fill in the blank 10 0 fill in the blank 11 fill in the blank 12
Dividends fill in the blank 14 0 fill in the blank 15 fill in the blank 16
Balances, May 31, 20Y6 $fill in the blank 18 100,000 $fill in the blank 19 $fill in the blank 20