Problem:
Tiger Company's total stockholders' equity at the beginning of the year was $175,000. During the year Tiger reported the following:
- Net income of $79,000.
- Dividend declarations totaling $17,000.
- Issued stock to stockholders in exchange for $42,000 cash.
- Borrowed $20,000 from a stockholder.
Required:
Question: What is Tiger's total stockholders' equity at the end of the year?
- $296,000.
- $279,000.
- $290,000.
- $273,000.
Note: Please show the work not just the answer.