Multiple Choice
August,Inc.had the following transactions in 2018,its first year of operations: • Issued 22,000 shares of common stock.The stock has a par value of $3.00 per share and was issued at $16.00 per share.
• Issued 1800 shares of $160 par value preferred stock at par.
• Earned net income of $37,000.
• Paid no dividends.
At the end of 2018,what is total stockholders' equity?
A) $677,000
B) $354,000
C) $286,000
D) $640,000
Correct Answer:
Verified
Correct Answer:
Verified
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