Question
Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 170,000 shares of $6 par value common stock. During 2021, Roberto
Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 170,000 shares of $6 par value common stock. During 2021, Roberto had the following transactions relating to stockholders' equity: Issued 17,000 shares of common stock at $8 per share. Issued 34,000 shares of common stock at $9 per share. Reported a net income of $170,000. Paid dividends of $85,000. Purchased 3,500 shares of treasury stock at $11 (part of the 34,000 shares issued at $9). What is total stockholders' equity at the end of 2021? Multiple Choice $930,500. $522,500. $488,500. $1,100,500.
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