Anole Company Anole Company Was Incorporated as a New Business on January

question 49

Multiple Choice

Anole Company
Anole Company was incorporated as a new business on January 1, 2015.The company is authorized to issue 20,000 shares of $5 par value common stock and 10,000 shares of 6%, $10 par value, cumulative, participating preferred stock.On January 1, 2015, the company issued 8,000 shares of common stock for $15 per share and 2,000 shares of preferred stock for $30 per share.Net income for the year ended December 31, 2015, was $375,000.
-Refer to the information about Anole Company.
Anole's total stockholders' equity reported on the balance sheet at December 31, 2015, is

• A)$ 60,000.
• B)$120,000.
• C)$180,000.
• D)$555,000.

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