Kendrick Corporation was organized on January 2, 2010. During 2010, Kendrick issued 20,000 shares at $24 per share, purchased 3,000 shares of treasury stock at $26 per share, and had net income of $300,000. What is the total amount of stockholders' equity at December 31, 2010? $640,000 $702,000 $708,000 $720,000
Answer is $702,000
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