ing Enabled: Final Exam

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On $\frac{1}{1}\frac{?}{23},$ Superior Corporation's total asset balance was $$800,000,$ its total liabilities were $$300,000,$ and its retained earnings were $$0.$ During the year $2023,$ its net income was $$300,000,$ it paid $$150,000$ in dividends, and repurchased $$100,000$ of its own stock from shareholders. Total liabilities remained unchanged for all of $2023,$ and the only changes to equity accounts resulted from the above.

What was Superior's total stockholders' equity balance on $\frac{1}{1}\frac{?}{2023}?$

Multiple Choice

$$0$

$$300,000$

$$500,000$

$$ $$800,000$