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QUESTION
Roberto Designers was organized on January 1, 2018. The firm was authorized to issue 190,000 shares of $6 par value common stock.
Roberto Designers was organized on January 1, 2018. The firm was authorized to issue 190,000 shares of $6 par value common stock. During 2018, Roberto had the following transactions relating to stockholders' equity:
Issued 19,000 shares of common stock at $8 per share.
Issued 38,000 shares of common stock at $9 per share.
Reported a net income of $190,000.
Paid dividends of $95,000.
Purchased 3,000 shares of treasury stock at $11 (part of the 38,000 shares issued at $9).
What is total stockholders' equity at the end of 2018?
19000 shares @838000 sahres @9Net IncomeDividendsTreasury stockStockholders equity $$$$$$ 152,000342,000190,000(95,000)(33,000)556,000