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What is the total amount of stockholders equity

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Question: (Learning Outcome 5) Mathews Inc. had the following transactions in 2018, 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 $55,000.

• Paid NO dividends.

At the end of 2018, what is the total amount of stockholders' equity? You must show your calculations to receive full credit for this problem.

Reference no: EM132716678

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