Stockholders' equity totaled $164,000 at the beginning of the year. During the year, net income was $24,000,

Question:

Stockholders' equity totaled $164,000 at the beginning of the year. During the year, net income was $24,000, dividends of $6,000 were declared and paid, and $20,000 of common stock was issued at par value.

Required:

Calculate total stockholders' equity at the end of the year.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...