Multiple Choice
During 2011,Stockton,Inc.reported net income of $4,000,declared and paid a cash dividend of $2,000,and issued common stock for $20,000.At December 31,2011,Stockton reported total shareholders' equity of $58,000.What was total shareholders' equity at the beginning of the year,on January 1,2011?
A) $36,000
B) $40,000
C) $58,000
D) $60,000
Correct Answer:
Verified
Correct Answer:
Verified
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