Reference no: EM133010570

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 $13,600 cash in the business in exchange for common stock.
2. Andrea contributed $21,000 of photography equipment to the business in exchange for common stock.
3. The company paid $2,200 cash for an insurance policy covering the next 24 months.
4. The company received $5,800 cash for services provided during January.
5. The company purchased $6,300 of office equipment on credit.
6. The company provided $2,850 of services to customers on account.
7. The company paid cash of $1,600 for monthly rent.
8. The company paid $3,200 on the office equipment purchased in transaction #5 above.
9. Paid $285 cash for January utilities.

Problem 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: $32,800.
Option 2: $40,400.
Option 3: $32,350.
Option 4: $41,365.
Option 5: $31,865.