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Vista Camera Services started the year with total assets of $80,000 and total liabilities of $40,000. The revenues and the expenses for the year amounted
Vista Camera Services started the year with total assets of $80,000 and total liabilities of $40,000. The revenues and the expenses for the year amounted to $120,000 and $70,000, respectively. During the year, the company did not issue any common stock, but it distributed dividends of $60,000. What is the amount of stockholders' equity at the end of the year? | |
A. $70,000 | |
B. $120,000 | |
C. $30,000 | |
D. $60,000 | |
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