A Company Reported Total Stockholders' Equity of $540,000 on Its

Multiple Choice

A company reported total stockholders' equity of $540,000 on its balance sheet dated December 31,2010.During the year ended December 31,2011,the company reported net income of $60,000,declared and paid a cash dividend of $18,000,declared and distributed a 10% stock dividend with a $15,000 total market value,sold treasury stock costing $12,000 for $15,000,and issued additional common stock for $70,000.What is total stockholders' equity as of December 31,2011?

A) $650,000
B) $670,000
C) $667,000
D) $655,000