At the Beginning of Year 2, Jones Company Had a Balance

Multiple Choice

At the beginning of Year 2, Jones Company had a balance in common stock of $300,000 and a balance of retained earnings of $15,000. During Year 2, the following transactions occurred: · Issued common stock for $90,000
· Earned net income of $50,000
· Paid dividends of $8,000
· Issued a note payable for $20,000
Based on the information provided, what is the total stockholders' equity on December 31, Year 2?

A) $147,000
B) $357,000
C) $427,000
D) $447,000