Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall

Exercise 14

Understanding financial statement relationships Total assets were $96,000 and total liabilities were $54,000 at the beginning of the year. Net income for the year was $16,000, and dividends of $4,000 were declared and paid during the year.
Required:
Calculate total stockholders' equity at the end of the year.