On January 1, Gucci Brothers Inc. started the year with a $708,000 balance in Retained Earnings and a $598,000 balance in common stock. During the year, the company reported net income of $95,000, paid a dividend of $14,900, and issued more common stock for $20,500. What is total stockholders' equity at the end of the year?

Question

Harrison Sweeney

Today, 15:57

+1

Answers (1)

Know the Answer?

Britney Miles · Answer 1

Stockholders Equity = Common Stock ($597,000 + $25,500) + Retained Earnings ($695,000 + $109,000 - $14,100)

Stockholders Equity = $1,412,400.