Total amount of stockholders equity

Reference no: EM13758363

Lerner Company had the following transactions in 2015, its first year of operations.

• Issued 20,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $14.00 per share.
• Issued 1,000 shares of $100 par value preferred stock. Shares were issued at par.
• Earned net income of $35,000.
• Paid no dividends.

At the end of 2015, what is the total amount of stockholders' equity?

A) $415,000

B) $120,000

C) $260,000

D) $380,000

Reference no: EM13758363

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