Kendrick Corporation was organized on January 2, 2010. During 2010, Kendrick issued 20,000 shares at $24 per share, purchased 3,000 shares of treasury stock at $26 per share, and had net income of $300,000. What is the total amount of stockholders' equity at December 31, 2010?
A) $640,000
B) $702,000
C) $708,000
D) $720,000
Correct Answer:
Verified
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