The net income of Edwards Corporation amounted to $73,000 fo

The net income of Edwards Corporation amounted to $73,000 for this year. The beginning balance of stockholders’ equity was $30,000 and the ending balance was $70,000. The company issued no common stock during the year

What was the amount of dividends distributed during the year?
A) $70,000
B) $33,000
C) $143,000
D) $30,000

ANSWER

B .Stockholders’ equity, beginning balance $30,000
Add:
Stock issued during the year 0
Net income 73,000
Less: Stockholders’ equity, ending balance (70,000 )
Dividends $33,000