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10. Tom Cole was reviewing his business activities at the end of the year (2022) and was analyzing his financial statements. At the beginning of

10. Tom Cole was reviewing his business activities at the end of the year (2022) and was analyzing his financial statements. At the beginning of the year his assets were $500,000 and liabilities were $150,000. During 2022 he made an additional investment into the company of $50,000. The net income for the year was $220,000 and dividends of $120,000 were paid. Determine the ending Stockholder's Equity as of December 31, 2022. ARUAH A. B. C. E. $100,000 $450,000 $620,000 $500,000 $800,000 A
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Tom Cole was reviewing his business activities at the end of the year (2022) and was analyzing his financial statements. At the beginning of the year his assets were $500,000 and liabilities were $150,000. During 2022 he made an additional investment into the company of $50,000. The net income for the year was $220,000 and dividends of $120,000 were paid. Determine the ending Stockholder's Equity as of December 31, 2022. A. $100,000 B. $450,000 C. $620,000 D. $500,000 E $800000

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