Stockholders equity totaled $246,000 at the beginning of the year. During the year, net income was $36,000,
Question:
Stockholders’ equity totaled $246,000 at the beginning of the year. During the year, net income was $36,000, dividends of $9,000 were declared and paid, and $30,000 of common stock was issued at par value.
Required:
Calculate total stockholders’ equity at the end of the year.
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