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Total assets were $60,000 and total liabilities were $33,000 at the beginning of the year. Net income for the year was $11,000, and dividends of

Total assets were $60,000 and total liabilities were $33,000 at the beginning of the year. Net income for the year was $11,000, and dividends of $5,000 were declared and paid during the year.

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Calculate total stockholders equity at the end of the year. (Negative amounts should be indicated by a minus sign.)

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