The Income Statement for August Indicates Net Income of $50,000

question 17

Multiple Choice

The income statement for August indicates net income of $50,000. The corporation also paid $10,000 in dividends during the same period. If there was no beginning balance in stockholders' equity, what is the ending balance in stockholders' equity?

• A) $40,000
• B) $50,000
• C) $10,000
• D) $60,000

---

Definitions:

Institution Of Slavery

A legalized system in which individuals are owned by others, deprived of personal freedom, and forced to work without wages.

Slave Narratives

First-hand accounts and autobiographies written or narrated by former slaves, documenting their experiences and the conditions of slavery in history.

Psychological Trauma

A type of damage to the mind that occurs as a result of a distressing event, leading to overwhelming amounts of stress that exceed the individual's ability to cope.

Natural Increase

The growth of a population through excess of births over deaths, excluding the effects of migration.