Moretown Company Had the Following Transactions in 2014, Its First

Moretown Company had the following transactions in 2014, its first year of operations.
• Issued 30,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $18.00
Per share.
• Earned net income of $70,000.
• Paid no dividends.
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At the end of 2014, what is the total amount of Stockholders' equity?

A) $30,000
B) $610,000
C) $540,000
D) $70,000