Please provide the correct answer to this general accounting problem using accurate calculations. Growth Corp has beginning equity of $345,000, net income of $78,000, dividends of $52,000and investments by owners in exchange for stock of $12,000. Its ending equity is:A. $359,000B. $371,000C. $383,000D. $487,000

Step 1: Definition of Ending EquityEnding equity is the value of an organization's equity at the end…

Answered: Growth Corp has beginning equity of…

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter14: Distributions To Shareholders: Dividends And Repurchases

Section: Chapter Questions

Problem 2STP

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Growth Corp has beginning equity of $345,000, net income of $78,000, dividends of $52,000 and investments by owners in exchange for stock of $12,000. Its ending equity is: A. $359,000 B. $371,000 C. $383,000 D. $487,000