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A firm's 2017 financial statements include the following balances: Cost of Goods Sold $3,200,000, Revenue $5,500,000, Operating Expenses $1,400,000, Depreciation Expense $300,000 and Interest Expense
A firm's 2017 financial statements include the following balances: Cost of Goods Sold $3,200,000, Revenue $5,500,000, Operating Expenses $1,400,000, Depreciation Expense $300,000 and Interest Expense $150,000. Common Stock and Retained Earnings beginning balance (January 1, 2017) are $10,100,000 and $4,700,000 respectively. The firm issued $750,000 in new common stock and paid $125,000 in dividends in 2017. The firm's tax rate is 30%. What is the total change in the Shareholders Equity account balance in 2017? (Round to the nearest whole dollar) Multiple Choice $750,000 O $315,000 $190,000 O $940,000 O
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