Total assets were $58,000 and total liabilities were $35,000 at the beginning of the year. Net income

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Total assets were $58,000 and total liabilities were $35,000 at the beginning of the year. Net income for the year was $11,000, and dividends of $3,000 were declared and paid during the year.


Required:
Calculate total stockholders’ equity at the end of the year.

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