Reference no: EM131606473
Question - Thomson Company started business on January 1 of Year 1. On December 31 of Year 1, Thomson had the following account balances:
Accounts receivable: $145,000
Sales revenues: $991,000
Income taxes payable: $29,000
Loan payable: $60,000
Cost of goods sold: $627,000
Cash: $80,000
Inventory: $33,000
Operating expenses: $235,000
Income tax expense: $30,000
Accounts payable: $60,000
Property, Plant, and Equipment: $166,000
Prepaid Rent: $60,000
Bonds Payable: $150,000
Capital Stock: $86,000
Given these data, what is the total amount of Thomson's Stockholders' Equity as of December 31 of Year 1?
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