Crestfield Technologies started the year with $1,100,000 in total assets and $450,000 in total liabilities. During the year, the company earned $200,000 in net income, paid $50,000 in dividends, and issued $70,000 in common stock. What is the total equity at the end of the year?

Crestfield Technologies started the year with $1,100,000 in total assets and $450,000 in total liabilities. During the year, the company earned $200,000 in net income, paid $50,000 in dividends, and issued $70,000 in common stock. What is the total equity at the end of the year?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 12P: The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of...

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Crestfield Technologies started the year with $1,100,000 in total assets and $450,000 in total liabilities.
During the year, the company earned $200,000 in net income, paid $50,000 in dividends, and issued
$70,000 in common stock. What is the total equity at the end of the year?

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