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The income statement for August indicates net income of $50,000. The corporation also paid $10,000 in dividends during the same period. If there was a $20,000 beginning balance in stockholders' equity, what is the ending balance in stockholders' equity?

a) $40,000

b) $70,000

c) $10,000

d) $60,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M943572

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