Moretown,Inc

question 179

Multiple Choice

Moretown,Inc.had the following transactions in 2017,its first year of operations:
• Issued 32,000 shares of common stock.Stock has par value of $1.00 per share and was issued at $28.00 per share.
• Earned net income of $80,000.
• Paid no dividends.
At the end of 2017,what is total stockholders' equity?

• A)$32,000
• B)$976,000
• C)$896,000
• D)$80,000

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