Oleander Corporation was organized on January 3,2014,with authorized capital of 100,000 shares of $10 par common stock.During 2014,Oleander had the following transactions affecting stockholders' equity:
•January 7--Issued 40,000 shares at $12 per share
•December 2--Purchased 6,000 shares of treasury stock at $13 per share
The cost method was used to record the treasury stock transaction.Oleander's net income for 2014 is $300,000.What is the amount of stockholders' equity at December 31,2014?

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The Answer of Oleander Corporation was organized on January 3,2014,with authorized capital of 100,000 shares of $10 par common stock.During 2014,Oleander had the following transactions affecting stockholders' equity:
•January 7--Issued 40,000 shares at $12 per share
•December 2--Purchased 6,000 shares of treasury stock at $13 per share
The cost method was used to record the treasury stock transaction.Oleander's net income for 2014 is $300,000.What is the amount of stockholders' equity at December 31,2014?

Oleander Corporation Was Organized on January 3,2014,with Authorized Capital of 100,000