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Find what is total shareholders equity at the end

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Reference no: EM132518482

Golden Gophers, Inc. (GG) was established on January 1, 2019. GG was authorized to issue 1 million shares of $0.01/share par value common stock.

During 2019, the following transactions occurred:

  1. Issued 100,000 shares of common stock for $8/share
  2. Issued 50,000 shares of common stock for $6/share
  3. Reported net income of $625,000
  4. Paid cash dividends of $100,000
  5. Repurchased 10,000 shares of common stock at $5/share

Question 1: What is total shareholders' equity at the end of 2019?

Option a. $950,000

Option b. $1,575,000

Option c. $1,050,000

Option d. $1,725,000

Reference no: EM132518482

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