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Microtel began operations at the beginning of 2 0 X 6 with a $ 1 0 , 0 0 0 cash investment by stockholders. During
Microtel began operations at the beginning of X with a $ cash investment by stockholders. During X Microtel had revenue on account of $; of this amount $ was collected during X and $ was an outstanding receivable at yearend. Microtel incurred $ of operating expenses during X; of this amount $ was unpaid at yearend. During X $ cash was disbursed as dividends. The only other transaction during X was the purchase of $ of equipment for cash near the end of the year. How much was Microtel's total stockholders' equity at yearend?
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