The stockholders' equity section of the December 31, 20x7 balance sheet is provided below: Common Stock,...

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The stockholders' equity section of the December 31, 20x7 balance sheet is provided below: Common Stock, $30 par. 20,000 shares issued and outstanding Paid-in Capital in Excess of Par--Common Stock 600,000 You Answered Retained Earnings 700,000 The common stock was issued at $42 per share. On March 1, 20x8, the company reacquired 4,000 shares of its common stock for $53 per share. Net income was $ 111.000 and dividends declared were $11.000. No other equity transactions occurred in 20x8. How much should be reported on the company's December 31, 20x8, balance sheet for total equity? 728,000 Correct Answer 1.428,000 The stockholders' equity section of the December 31, 20x7 balance sheet is provided below: Common Stock, $30 par. 20,000 shares issued and outstanding Paid-in Capital in Excess of Par--Common Stock 600,000 You Answered Retained Earnings 700,000 The common stock was issued at $42 per share. On March 1, 20x8, the company reacquired 4,000 shares of its common stock for $53 per share. Net income was $ 111.000 and dividends declared were $11.000. No other equity transactions occurred in 20x8. How much should be reported on the company's December 31, 20x8, balance sheet for total equity? 728,000 Correct Answer 1.428,000