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Having trouble with this problem? Stockholder equity formula?
On January 1, 2012, Gucci Brothers Inc. started the year with a $492,000 balance in retained earnings and a $593,000 balance in common stock. During 2012, the company earned net income of $107,000, paid a dividend of $15,400, and issued more common stock for $20,000. What is total stockholders' equity on December 31, 2012?
1 Answer
- ?Lv 77 years agoFavorite Answer
492,000 + 593,000 = $1,085,000 total beginning s/e
What is total stockholders' equity on December 31, 2012?
1,085,000 + 107,000 - 15,400 + 20,000 = $1,196,600
Source(s): Accounting Fan