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Question - Bruce Inc. begins operations on January 1, 2020. Bruce has the following transactions related to stockholders' equity.
-Bruce issues 200,000 shares of common stock for a total of $1.1M. The common stock has a par value of $1.
-Bruce reported total revenues of $200,000 and total expenses of $160,000.
-Bruce repurchased 10,000 shares of common stock for $100,000.
-Bruce sold 2,000 shares of treasury stock for $8 per share. Bruce uses the Treasury Stock (Cost Method)
What is the balance of total stockholders' equity at year-end?
A. $1,188,000
B. $1,216,000
C. $1,056,000
D. $1,224,000
E. $1,180,000
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