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On January 1, 2013, Jessica invested capital of $20,000 into her newly formed corporation. That year the corporation generated $5,000 of net income and paid

On January 1, 2013, Jessica invested capital of $20,000 into her newly formed corporation. That year the corporation generated $5,000 of net income and paid it all out in dividends. In 2014, the corporation generated $9,000 of net income and paid out half of it in dividends. Determine the ending stockholder's equity balance at the end of 2014.

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