Information for osmond dental laboratories


Based on the following information, what is the total equity at the end of 2013? The following is selected financial information for Osmond Dental Laboratories for 2012 and 2013:

  • Retained earnings January 1 2012 = $53,000
  • Net income 2012 = $37,000; 2013 = $42,000
  • Dividends declared and paid 2012 = $15,000; 2013 = $18,000
  • Capital stock issued 2012 = $70,000; 2013 = $20,000
  • Total assets 2012 = $276,000; 2013 = $320,000

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Accounting Basics: Information for osmond dental laboratories
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