Question
Company A had the following balances in its stockholders' equity accounts on December 31, 2009: Common stock, $10 par $170,000 Contributed capital in excess of
Company A had the following balances in its stockholders' equity accounts on December 31, 2009:
Common stock, $10 par | $170,000 |
Contributed capital in excess of par | 350,000 |
Retained earnings | 400,000 |
Treasury stock, 500 shares | (7,000) |
Total stockholders' equity | $913,000 |
The following transactions occurred during 2010: January 15, sold and issued 2,000 shares of common stock for $15 per share; February 16, sold 500 shares of treasury stock for $18 per share; and March 21, declared a $0.50 per share cash dividend on common stock. Total net income reported for 2010 was $80,000.
Given the above information, what is the total stockholders' equity reported on the balance sheet on December 31, 2010?
A. $1,029,250
B. $1,022,250
C. $950,500
D. $1,022,500
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