Overton,Inc

question 94

Multiple Choice

Overton,Inc.had the following transactions in 2017,its first year of operations:
• Issued 15,000 shares of common stock.Stock has par value of $0.01 per share and was issued at $39.00 per share.
• Earned net income of $300,000.
• Paid dividends of $15.00 per share.
At the end of 2017,what is total stockholders' equity?

• A)$585,000
• B)$660,000
• C)$75,000
• D)$1,110,000

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Definitions:

Recession

A significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Quantity

The amount or number of a material or immaterial good considered as a unit or in total.

Corn Seed

The seed of the corn plant, used for planting to produce corn crops; an essential agricultural product.

Yield Per Acre

The amount of a crop produced on one acre of land.