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Lamar Company had the following transactions in 2013, its first year of operations. - Issued 20,000 shares of common stock. Stock has par value of
Lamar Company had the following transactions in 2013, its first year of operations. - Issued 20,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $14.00 per share. - Issued 1,000 shares of $100 par value preferred stock. Shares were issued at par. - Earned net income of $35,000. - Paid no dividends. At the end of 2013, what is the total amount of Stockholders' equity? a. $380,000 b. $120,000 c. $415,000 d. $260,000
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