Leslie Printing Has Net Income of $26,310 for the Year

question 23

Multiple Choice

Leslie Printing has net income of $26,310 for the year.At the beginning of the year, the firm had common stock of $55,000, paid-in surplus of $11,200, and retained earnings of $48,420.At the end of the year, the firm had total equity of $142,430.The firm paid dividends of $32,500.What is the amount of the net new equity raised during the year?

• A)$34,000
• B)$42,500
• C)$25,000
• D)$21,500
• E)$0

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Definitions:

Unemployment Rates

The proportion of the workforce that is unemployed and actively looking for work.

Charter of Rights and Freedoms

A fundamental document in Canada that guarantees certain political and civil rights to Canadian citizens.

Collective Bargaining

The negotiation process between employers and a group of employees aimed at reaching agreements to regulate working conditions, wages, and other aspects of workers' compensation and rights.

Pay Equity Legislation

Legal standards aimed at ensuring equal pay for work of equal value across genders and other demographics.