Total assets were $96,000 and total liabilities were $54,000 at the beginning of the year. Net income

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Total assets were $96,000 and total liabilities were $54,000 at the beginning of the year. Net income for the year was $16,000, and dividends of $4,000 were declared and paid during the year.

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Calculate total stockholders’ equity at the end of the year.

Related Book For answer-question

Financial Accounting

ISBN: 978-0078025549

3rd edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

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Posted Date: Jan 18, 2021 05:04 PM

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Total assets were $96,000 and total liabilities were $54,000 at the beginning of the year. Net income

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Financial Accounting

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