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Calculate the stockholders equity on december

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Reference no: EM131660571

Question - The following information is taken from the financial statements of Gray Company during its third year of operations:

Jan 1, 2013   Dec 31, 2013

Total Assets $77,000 $89,000

Total Stockholders' Equity $61,000

2013 Revenue

$22,000 2013 Expenses

$15,000 Dividends Paid

$18,000

Additional Information:

Total Stockholders' Equity as at January 1, 2013 is composed of: Common Stock $30,000 Retained Earnings $31,000

Required: Calculate the Stockholders' equity on December 31, 2013.

Reference no: EM131660571

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