Problem
Moretown, Inc. had the following transactions in? 2017, its first year of operations:
1. Issued 39,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $27.00 per share.
2. Earned net income of $74,000.
3. Paid no dividends.
At the end of? 2017, what is total stockholders' equity?