Overton Company had the following transactions in 2012, its first year of operations. • Issued 5,000 shares of common stock. Stock has par value of $0.01 per share and was issued at $30.00 per share.
• Earned net income of $200,000.
• Paid dividends of $5.00 per share.
At the end of 2012, how much is the total stockholders' equity?
A)$150,000
B)$325,000
C)$175,000
D)$350,000

Question

Quizplus · Accepted Answer

The Answer of Overton Company had the following transactions in 2012, its first year of operations. • Issued 5,000 shares of common stock. Stock has par value of $0.01 per share and was issued at $30.00 per share.
• Earned net income of $200,000.
• Paid dividends of $5.00 per share.
At the end of 2012, how much is the total stockholders' equity?
A)$150,000
B)$325,000
C)$175,000
D)$350,000

Overton Company Had the Following Transactions in 2012, Its First