Coal,IncHad the Following Amounts on Its Balance Sheet on December

question 29

Multiple Choice

Coal,Inc.had the following amounts on its balance sheet on December 31,2018: During 2019,Coal Inc.reported net income of $69,300,declared cash dividends of $47,700,purchased additional treasury stock for $12,600,and experienced a foreign currency translation gain of $5,400.What amount will Coal report as total stockholders' equity at December 31,2019 on its statement of stockholders' equity?

• A)$1,076,100.
• B)$975,900.
• C)$965,100.
• D)$1,008,000.

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Definitions:

Assets

Economic resources owned or controlled by an entity, expected to produce value or benefit in the future.

Cycle Inventory

Inventory that is carried as a result of the production or purchase process, determined by the frequency of orders and the quantity of goods ordered each time.

Demand Variability

The extent to which demand can fluctuate over a period of time, impacting inventory management and planning processes.

High Utilization

Refers to the extent to which a company's resources, such as workers or equipment, are being used at or near their maximum capacity.