On January 1,Gucci Brothers Inc

question 150

Multiple Choice

On January 1,Gucci Brothers Inc.started the year with a $492,000 balance in Retained Earnings and a $605,000 balance in Common Stock.During the year,the company earned net income of $92,000,paid a dividend of $15,200,and issued more common stock for $27,500.What is total stockholders' equity at the end of the year?

• A)$1,231,700.
• B)$1,097,000.
• C)$1,201,300.
• D)$1,588,300.

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Definitions:

Managing Up

The practice of managing one's relationship with and influence on superiors or higher-ups in an organization.

Grapevine

An informal, often unofficial channel of communication within an organization or social network.

Informal Network

is the set of relationships and channels of communication that are not officially prescribed but emerge naturally among people within an organization, often influential in spreading information and influencing decisions.

Horizontal Communication

Communication between peers.