Question 40\ 2.5 pts\ On January 1, ABC Company started the year with a

$420,000

balance in Retained Earnings and a

$550,000

balance in Common Stock. During the year, the company reported net income of

$100,000

, paid a dividend of

$25,000

, issued more common stock for

$30,000

, and borrowed

$50,000

from the bank. What is total stockholders' equity at the end of the year?\

$1,150,000

\

$495,000

\

$1,100,000

\

$1,075,000

\ No new data to save. Last checked at

3:18pm

On January 1, ABC Company started the year with a $420,000 balance in Retained Earnings and a $550,000 balance in Common Stock. During the year, the company reported net income of $100,000, paid a dividend of $25,000, issued more common stock for $30,000, and borrowed $50,000 from the bank. What is total stockholders' equity at the end of the year? $1,150,000 $495,000 $1,100,000 $1,075,000