Reference no: EM132484222

Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and were recorded in the company's books:

1. Andrea invested $15,200 cash in the business in exchange for common stock.
2. Andrea contributed $37,000 of photography equipment to the business in exchange for common stock.
3. The company paid $3,800 cash for an insurance policy covering the next 24 months.
4. The company received $7,400 cash for services provided during January.
5. The company purchased $7,900 of office equipment on credit.
6. The company provided $4,450 of services to customers on account.
7. The company paid cash of $3,200 for monthly rent.
8. The company paid $4,800 on the office equipment purchased in transaction #5 above.
9. Paid $445 cash for January utilities.

Question 1: Based on this information, the amount of total stockholders' equity-reported on the Balance Sheet at the end of the month would be:

Multiple Choice

Option 1: $55,200.

Option 2: $59,600.

Option 3: $51,550.

Option 4: $60,405.

Option 5: $47,705.