Question: Precision Camera Services started the year with total assets of $130,000 and total liabilities of $40,000. The revenues and the expenses for the year amounted

Precision Camera Services started the year with total assets of $130,000 and total liabilities of $40,000. The revenues and the expenses for the year amounted to $150,000 and $50,000, respectively. During the year, the company did not issue any common stock, but it distributed dividends of $55,000. What is the amount of stockholders' equity at the end of the year? A. $135,000 B. $50,000 C. $55,000 D. $150,000

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