Nguyen Imports, Inc. opened on July 1, 2019, with $250,000 from the sale of common stock. The company reported $622,000 in net income for the year ended June 30, 2020, (its first year of operations). On June 1, 2020, a $10,000 dividend was declared. (The dividend was paid on July 1.) Nguyen reported a $5,000 foreign currency translation adjustment loss for the year. The companys tax rate was 25%. Stockholders Equity totaled _____________on June 30, 2020.

Select one:

a. $612,000

b. $857,000

c. $858,250

d. $862,000

e. $608,250