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How much was stockholders equity at the end of the year

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Problem 1: If total assets were $21,000 and total liabilities were $12,000 at the beginning of the year, and if net income for the year was $5,000, how much was total stockholders' equity at the end of the year?

a. $ 4,000

b. $ 5,000

c. $ 9,000

d. $14,000

Problem 2: At the beginning of the year, stockholders' equity totaled $119,000. During the year, net income was $35,000 and dividends of $29,000 were declared (but not paid). How much was stockholders' equity at the end of the year?

a. $113,000

b. $125,000

c. $148,000

d. $154,000

Reference no: EM132771663

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