(Answered) Anole company was incorporated as a new business on january

Accounting

Anole Company was incorporated as a new business on January 1, 2015. The company is authorized to issue 20,000 shares of $5 par value common stock and 10,000 shares of 6%, $10 par value, cumulative, participating preferred stock. On January 1, 2015, the company issued 8,000 shares of common stock for $15 per share and 2,000 shares of preferred stock for $30 per share. Net income for the year ended December 31, 2015, was $375,000. Refer to the information about Anole Company. Anole's total stockholders' equity reported on the balance sheet at December 31, 2015, is:

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