At the Start of the Year, Gershon, Inc

question 307

Multiple Choice

At the start of the year, Gershon, Inc. had total shareholders' equity = $12,000. If net income during the year was a $200 loss, dividends paid = $400, and $1,000 was raised from the sale of new stock, what is the end of year value for total shareholders' equity?

• A) $10,060
• B) $11,800
• C) $12,400
• D) $12,800
• E) $13,200

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