Moretown,Inc.had the following transactions in 2017,its first year of operations: • Issued 31,000 shares of common stock.Stock has par value of $1.00 per share and was issued at $20.00 per share.
• Earned net income of $70,000.
• Paid no dividends.
At the end of 2017,what is total stockholders' equity?
A) $31,000
B) $690,000
C) $620,000
D) $70,000
Correct Answer:
Verified
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