# 37. Midtown, Inc. had the following transactions in 2018, its first year of operations: Issued 38.000 shares of common stock. Stock has par value of $1.00 per share and was issued at $23.00 per share. Earned net income of $80,000. Paid no dividends. At the end of 2018, what is total stockholders' equity? multiple choice 0 A. $38,000 O B. $80,000 O c. $954,000 O D. $874,000
# 37. Midtown, Inc. had the following transactions in 2018, its first year of operations: Issued 38.000 shares of common stock. Stock has par value of $1.00 per share and was issued at $23.00 per share. Earned net income of $80,000. Paid no dividends. At the end of 2018, what is total stockholders' equity? multiple choice 0 A. $38,000 O B. $80,000 O c. $954,000 O D. $874,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Hh2.
![# 37. Midtown, Inc. had the following
transactions in 2018, its first year of
operations:
Issued 38.000 shares of common stock. Stock
has par value of $1.00 per share and was
issued at $23.00 per share.
Earned net income of $80,000. Paid no
dividends. At the end of 2018, what is total
stockholders' equity? multiple choice
0 A. $38,000
O B. $80,000
O c. $954,000
O D. $874,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fed9d92f8-4105-4d56-b84f-e22745319608%2Fbe220de9-b28a-4cc5-81c2-6476a40f86f0%2Fsi08l2r_processed.jpeg&w=3840&q=75)
Transcribed Image Text:# 37. Midtown, Inc. had the following
transactions in 2018, its first year of
operations:
Issued 38.000 shares of common stock. Stock
has par value of $1.00 per share and was
issued at $23.00 per share.
Earned net income of $80,000. Paid no
dividends. At the end of 2018, what is total
stockholders' equity? multiple choice
0 A. $38,000
O B. $80,000
O c. $954,000
O D. $874,000
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