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At March 31, 2010, Nicholson Store, had $1,000,000 of assets and $325,000 of liabilities. On April 10, 2010, Gaffers paid off $125,000 of its liabilities.
At March 31, 2010, Nicholson Store, had $1,000,000 of assets and $325,000 of liabilities. On April 10, 2010, Gaffers paid off $125,000 of its liabilities. Total stockholders equity at April 10, 2010, after the payment, is
a-) 550,000
b-) 600,000
c-) 675,000
d-) $1,000,000
e-) $1,125,000
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