Business, 30.06.2021 02:00 biancaalegriashaffer
During its first year of operations, Mario Lupo formed Lupo Company as a corporation and personally invested $15,000 in the business in exchange for common stock. Lupo Company also paid dividends of $2,000. The company earned $35,000 of revenues and incurred $23,000 of expenses. At the end of the year, the company's equity totaled:.
a. $13,000.
b. $15,000.
c. $25,000.
d. $75,000.
Answers: 3
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