Total assets were $84,000 and total liabilities were $45,000 at the beginning of the year. Net income for the year was $17,000, and dividends of $6,500 were declared and paid during the year.

Required:

Calculate total stockholders equity at the end of the year.

					Stockholders'
	Assets	=	Liabilities	+	Equity
Beginning:	$84,000	=	$45,000	+
Changes:
Ending:		=		+