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?

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December 31, 2011 stockholders' equity ($667,000) = December 31, 2010 stockholders' equity ($540,000) + 2011 net income ($60,000) - 2011 cash dividend declarations ($18,000) + treasury stock sale ($15,000) + 2011 common stock issue ($70,000).Stock dividends do not affect total stockholders' equity.

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