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Arnold Company reported total stockholders' equity of $250,000 on its balance sheet dated December 31, 2014. During the year ended December 31, 2015, Arnold reported
Arnold Company reported total stockholders' equity of $250,000 on its balance sheet dated December 31, 2014. During the year ended December 31, 2015, Arnold reported net income of $150,000, declared and paid a cash dividend of $75,000, and issued additional common stock for $40,000. What is total stockholders' equity as of December 31, 2015? Show your calculations.
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