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How much total equity will Lamar report

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Question - On 1/1/X1, Lamar Company issued capital stock for $200,000 that had a par value of $100,000. During year X1, Lamar earned $50,000 of income and paid $10,000 of dividends. On 12/30/X1, Lamar purchased 10% of its outstanding stock for $16,000. How much total equity will Lamar report on 12/31/X1?

Reference no: EM132516629

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