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elena-14-01-66 [18.8K]
3 years ago
14

Saira's Maid Service began the year with total assets of $120,000 and stockholders' equity of $40,000. During the year the compa

ny earned $90,000 in net income and paid $20,000 in dividends. Total assets at the end of the year were $215,000. How much was stockholders' equity at the end of the year
Business
1 answer:
Whitepunk [10]3 years ago
5 0

Answer:

$110,000

Explanation:

Calculation for How much was stockholders' equity at the end of the year

Beginning balance of stockholders' equity $40,000

Add net income $90,000

Less the dividends paid ($20,000)

Ending stockholders' equity $110,000

Therefore How much was stockholders' equity at the end of the year is $110,000

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