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At Hofstadter Inc., total assets increased by $44,000 during the year and total liabilities increased by $12,000 during the same time. Net income during the year was $35,000 and dividends paid were $10,000. How much capital stock was issued?

At Hofstadter Inc., total assets increased by $44,000 during the year and total liabilities increased by $12,000 during the same time. Net income during the year was $35,000 and dividends paid were $10,000. How much capital stock was issued?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At Hofstadter Inc., total assets increased by $44,000 during the year and total liabilities increased by $12,000 during the same time. Net income during the year was $35,000 and dividends paid were $10,000. How much capital stock was issued?
Transcribed Image Text:At Hofstadter Inc., total assets increased by $44,000 during the year and total liabilities increased by $12,000 during the same time. Net income during the year was $35,000 and dividends paid were $10,000. How much capital stock was issued?
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