Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 180,000 shares of $4 par value common stock. During 2021, Roberto had the following transactions relating to stockholders' equity. Issued 18,000 shares of common stock at $6 per share. Issued 36,000 shares of common stock at $7 per share. Reported a net income of $180.000. Paid dividends of S90,000. Purchased 5.000 shares of treasury stock at $9 (part of the 36,000 shares issued at $7). What is total stockholders' equity at the end of 2021? Mutiple Choice $945.000 $44.000 $765.000 $405.000

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Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.