Question
Presented below is information related to Hale Corporation at December 31, 2017: Common Stock, $1 par $3,500,000 Paid-in Capital in Excess of ParCommon Stock 550,000
Presented below is information related to Hale Corporation at December 31, 2017: Common Stock, $1 par $3,500,000 Paid-in Capital in Excess of ParCommon Stock 550,000 Preferred 8 1/2% Stock, $50 par 2,000,000 Paid-in Capital in Excess of ParPreferred Stock 400,000 Retained Earnings 1,500,000 Treasury Common Stock (at cost) 150,000
During 2018, Hale Corporation recorded the following transactions: issued 500 shares of common stock for $9,500; re-issued all treasury shares for $140,000; reported net income of $120,000; and paid cash dividends of 50,000.
The total stockholders' equity of Hale Corporation at December 31, 2018 is?
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