Hoover Inc

question 105

Multiple Choice

Hoover Inc. has current assets of $350,000 and fixed plant assets of $650,000. Current liabilities are $100,000 and long-term liabilities are $250,000. There is $120,000 in preferred stock outstanding and the firm has issued 10,000 shares of common stock. What is the firm's total equity?

• A) $1,000,000.
• B) $530,000
• C) $350,000
• D) $650,000