Roberto Corporation was organized on January 1. The firm was…
Roberto Corporation was organized on January 1. The firm was authorized to issue 100,000 shares of $5 par common stock. During the year, Roberto had the following transactions relating to shareholders’ equity: Issued 9,800 shares of common stock at $6.90 per share. Issued 19,800 shares of common stock at $8.50 per share. Reported a net income of $97,000. Paid dividends of $43,000. Purchased 2,200 shares of treasury stock at $10.50 (part of the 19,800 shares issued at $8.50). What is total shareholders’ equity at the end of the year?
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