Horizon Enterprises began the year with total assets of $2,500,000 and total liabilities of $900,000. During the year, the company generated $320,000 in net income, paid $80,000 in dividends, and repurchased $150,000 of its own common stock. What is the company's total equity at the end of the year?

Horizon Enterprises began the year with total assets of $2,500,000 and total liabilities of $900,000. During the year, the company generated $320,000 in net income, paid $80,000 in dividends, and repurchased $150,000 of its own common stock. What is the company's 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

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 6P: In its most recent financial statements, Del-Castillo Inc. reported 70 million of net income and 900...

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