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Smith Company has the following balances at the beginning of the current year, 2025: A. $877,000 B. $886,000 During the year, the company declared and
Smith Company has the following balances at the beginning of the current year, 2025: A. $877,000 B. $886,000 During the year, the company declared and paid dividends of $36,000 and had net income at the end of the year of $214,000. The company had also understated Salaries Expense from last period by $9,000. What is the ending total stockholders' equity (assume no transactions related to common stock occurred)? C. $850,000 D. $878,000
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