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Find the total shareholders equity at the end of 2017 is

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Question

Captain Morgan Corporation was organized on January 1, 2017. During 2017, Captain had the following transactions relating to shareholders' equity:

(1) issued 10,000 shares of common stock at $7 per share;

(2) issued 20,000 shares of common stock at $8 per share;

(3) reported net income of $100,000 for 2017;

(4) paid dividends of $50,000;

(5) purchased 3,000 shares of treasury stock at $10 per share.

Total shareholders' equity at the end of 2017 is:

Reference no: EM132318614

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