August, Inc. had the following transactions in 2018, its first year of operations:
• Issued 22,000 shares of common stock. The stock has a par value of $3.00 per share and was issued at $16.00 per share.
• Issued 1800 shares of $160 par value preferred stock at par.
• Earned net income of $37,000.
• Paid no dividends.
At the end of 2018, what is total stockholders' equity?
A) $677,000
B) $354,000
C) $286,000
D) $640,000
A) $677,000
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Examples of industries in the service channel include convention centers, banking, and advertising
Indicate whether the statement is true or false
An organization with a ________ maintains arm's-length relationships with vendors and is primarily focused on reducing the total spending
a. supply management orientation b. procurement orientation c. value orientation d. buying orientation
Fact Pattern 31-1BNortheast Bank makes mortgage loans to consumers, including Mai, to buy homes.Refer to Fact Pattern 31-1B. For Mai's loan, Northeast provides all required disclosures. Mai has a right to rescind the mortgage
A. at any time. B. under no circumstances. C. within three business days. D. within whatever period is most rational and appropriate.
A company has sales revenue of $132,000, cost of goods sold of $77,000, operating expenses of $32,000, and other expenses of $1,000. The company's gross profit is:
A) $22,000. B) $55,000. C) $54,000. D) $23,000.