A company reported total stockholders' equity of $540,000 on its balance sheet dated December 31, 2016. During the year ended December 31, 2017, the company reported net income of $60,000, declared and paid a cash dividend of $18,000, declared and distributed a 10% stock dividend with a $15,000 total market value, issued additional common stock for $70,000, and resold treasury stock for $15,000 that it had purchased in 2016 for $12,000. What is total stockholders' equity as of December 31, 2017?

Select one:

A. $667,000.

B. $655,000.

C. $670,000.

D. $640,000.

Answer rating: 100% (QA)

Stockholders equity also known as shareholders equity is reported on a corporations balance sheet an... View the full answer