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Comet Corporation began operations on January 1,2020 , with an investment of $300,000 by its stockholders. Net income first year of business was $92,000. During
Comet Corporation began operations on January 1,2020 , with an investment of $300,000 by its stockholders. Net income first year of business was $92,000. During 2021 and 2022 , net income increased to $188,000 and to $217,000 respectively. Comet paid $80,000 in dividends to stockholders in each of the three years. During 2022, the owners invested an additional $100,000 into the business. 8. Determine the ending value of Comet's Retained Earnings on December 31, 2022. $ 9. Determine the total amount of Comet's Stockholders' Equity on December 31, 2022. \$
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