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Total Assets Were $24,000 and Total Liabilities Were $13,500 at the Beginning

question 32

Essay

Total assets were $24,000 and total liabilities were $13,500 at the beginning of the year.Net income for the year was $4,000, and dividends of $1,500 were declared and paid during the year.
Required:
Calculate total stockholders' equity at the end of the year.

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