Overton Company Had the Following Transactions in 2012, Its First

question 133

Multiple Choice

Overton Company had the following transactions in 2012, its first year of operations. • Issued 5,000 shares of common stock. Stock has par value of $0.01 per share and was issued at $30.00 per share.
• Earned net income of $200,000.
• Paid dividends of $5.00 per share.
At the end of 2012, how much is the total stockholders' equity?

• A)$150,000
• B)$325,000
• C)$175,000
• D)$350,000

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Definitions:

Differentiation

The process by which cells or tissues undergo a change toward a more specialized form or function, often in the context of development.

Apoptosis

Programmed cell death, a process by which cells systematically dismantle themselves in response to specific signals.

Normal Development

The process by which an organism grows and develops in a manner considered typical for its species, following a standard sequence of stages.

Hox Gene Clusters

Groups of genes found in many animals that regulate the development of anatomical structures along the body axis from head to tail.