Wendell Company Provided the Following Pertaining to Its Recent Year

question 66

Multiple Choice

Wendell Company provided the following pertaining to its recent year of operation:
Common stock with a $10,000 par value was sold for $50,000 cash.
Cash dividends totaling $20,000 were declared,of which $15,000 were paid.
Net income was $70,000.
A 5% stock dividend resulted in a common stock distribution,which had a $5,000 par value and a $23,000 market value.
Treasury stock costing $9,000 was sold for $7,000.
How much did Wendell's total stockholders' equity increase during the recent year of operation?

• A)$107,000
• B)$84,000
• C)$80,000
• D)$112,000

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