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Johnston's Clothing Emporium was organized on January 1, 2022. The firm was authorized to issue 100,000 shares of $5 par value common stock. During
Johnston's Clothing Emporium was organized on January 1, 2022. The firm was authorized to issue 100,000 shares of $5 par value common stock. During 2022, Johnston's Clothing Emporium had the following transactions relating to shareholders' equity: Issued 40,000 shares of common stock at $7 per share. Issued 20,000 shares of common stock at $10 per share. Reported a net income of $90,000. Declared dividends of $30,000. What is total stockholders' equity at the end of 2022? $540,000. $480,000. O $570,000. O $660,000.
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