At the end of its first month of operations, JMP Consulting reported net income of $25,000. They also had account balances of: Cash, $18,000; Office Supplies, $2,000; and Accounts Receivable, $10,000. Stockholders’ total investments for this first month was $5,000. There were no dividends in the first month. Calculate the amount of total stockholders’ equity reported on the balance sheet at month-end.

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