Question: How do you work out this problem to come up with the answer of 90,000 for total equity attributable to common shareholders? 1. [CH 2]
1. [CH 2] Advocate Agency has $10,000 in debt, $35,000 in preferred stock, $10,000 in common stock $25,000 of capital in excess of par, and $55,000 in retained earnings. They have 1,400 shares of preferred stock outstanding (par value of $25). They also have 10,000 shares of S1 par value common stock outstanding. What is the total equity attributable to common stockholders? Total Equity attributable to Common Shareholders- $90,000
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