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August, Inc. had the following transactions in​ 2018, its first year of​ operations: Issued shares of common stock. The stock has par value of per share and was issued at per share. Issued shares of par value preferred stock at par. Earned net income of . Paid no dividends. At the end of​ 2018, what is total​ stockholders' equity

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Answer:

A. $601,000

Step-by-step explanation:

The numbers are missing, so I looked for a similar question:

August, Inc. had the following transactions in 2018, its first year of operations: Issued 21,000 shares of common stock. The stock has par value of $3.00 per share and was issued at $18.00 per share. Issued 1,100 shares of $170.00 par value preferred stock at par. Earned net income of $36,000. Paid no dividends. At the end of 2018, what is total stockholders' equity? A. $601,000 B. $250,000 C. $315,000 D. $565,000

Dr Cash 378,000

Cr Common stock 63,000

Cr Additional paid in capital 315,000

Dr Cash 187,000

Cr Preferred stocks 187,000

Dr Income summary 36,000

Cr retained earnings 36,000

Total stockholders' equity = $63,000 + $315,000 + $187,000 + $36,000 = $601,000

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