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Stockholders equity totaled $101,000 at the beginning of the year. During the year, net income was $31,000, dividends of $6,000 were declared and paid, and
Stockholders equity totaled $101,000 at the beginning of the year. During the year, net income was $31,000, dividends of $6,000 were declared and paid, and $29,000 of common stock was issued at par value. Required: Calculate total stockholders equity at the end of the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.)
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