At the End of Its First Month of Operations,JMP Consulting

Multiple Choice

At the end of its first month of operations,JMP Consulting reported net income of $25,000.They also had account balances of: Cash,$18,000; Office Supplies,$2,000; and Accounts Receivable,$10,000.Stockholders' total investments for this first month was $5,000.There were no dividends in the first month. Calculate the amount of total stockholders' equity reported on the balance sheet at month-end.

A) $30,000
B) $25,000
C) $20,000
D) $5,000
E) $7,000