has $120,000 of common stock and retained earmings IPing the year, the company reports net income of $75,000 and declares diidends of $30.000. In addition, the company issues additional common stock for $60,000. Determine the following as of December 31st: Do not include $ in your answer. Ending Common stock Ending retained earnings Ending Stockholders' Equity
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Lets understand the basics.
We can calculate the requirement by the equations below:-
Ending common stock = Opening common stock + Common stock issued - Common stock repurchased
Ending retained earnings = Opening retained earning + Net income - Dividend paid
Ending stockholder's equity = Ending common stock + Ending retained earning
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