Gold Corporation began operations on January 1, 2012. The firm was authorized to issue 300,000...
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Gold Corporation began operations on January 1, 2012. The firm was authorized to issue 300,000 shares of $5 par value common stock. During 2012, Gold had the following transactions relating to shareholders' equity:
Issued 110,000 shares of common stock at $13 per share.
Issued 65,000 shares of common stock at $16 per share.
Reported a net income of $1,050,000. Paid cash dividends of $55,000.
Purchased 45,000 shares of treasury stock at $14 per share.
What is total stockholders' equity at the end of 2012?
A- $2,835,000
B- $2,890,000
C- $3,465,000
D- $3,520,000
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