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Business, 16.11.2019 05:31 elyzarobertson

Acompany that uses the accrual method of accounting started the fiscal year with assets of $600,000 and liabilities of $400,000. during the fiscal year, the company recorded credit sales of $250,000, of which $8,000 remained to be collected at year-end, and incurred expenses of $90,000, of which $72,000 was paid in cash. a stock dividend valued at $10,000 was declared and issued to stockholders during the year. what is the year-end balance of total equity?

a. $330,000

b. $360,000

c. $370,000

d. $380,000

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