Mountain Company Has Beginning Equity of $1,200,000, Net Income of $200,000

Multiple Choice

Mountain Company has beginning equity of $1,200,000, net income of $200,000, dividends of $120,000 and investments by owners in exchange for stock of $40,000. Its ending equity is:

A) $ 892,000
B) $ 960,000
C) $1,072,000
D) $1,320,000