Multiple Choice
Karl Corporation was organized on January 2, 2015. During 2015, Karl issued 40,000 shares at $24 per share, purchased 6,000 shares of treasury stock at $26 per share, and had net income of $600,000. What is the total amount of stockholders' equity at December 31, 2015?
A) $1,280,000
B) $1,404,000
C) $1,416,000
D) $1,440,000
Correct Answer:
Verified
Correct Answer:
Verified
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