BrightLine Services started the year with total assets of $80,000 and total liabilities of $30,000. During the year, the business recorded revenue of $70,000 and expenses of $45,000. BrightLine also issued stock worth $12,000 and paid dividends of $10,000. What was the change in stockholders' equity from the beginning of the year to the end of the year?

BrightLine Services started the year with total assets of $80,000 and total liabilities of $30,000. During the year, the business recorded revenue of $70,000 and expenses of $45,000. BrightLine also issued stock worth $12,000 and paid dividends of $10,000. What was the change in stockholders' equity from the beginning of the year to the end of the year?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 53E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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