J&J Corporation's year-end 2018 balance sheet lists current assets of $250,000, fixed assets of $800,000, current liabilities of $195,000, and long-term liabilities of $350,000.
What is J&J's total stockholders' equity?
A. $495,000
B. $555,000
C. $1,050,000
D. There is not enough information to calculate total stockholder's equity.

The answer is B. $555,000

Explanation:

Please note that the student meant $300,000 for non-current liability and not $350,000

Stockholder's equity = total asset - total Liability

Total asset = current asset + fixed asset

= $250,000 + $800,000

= $1,050,000

Total liability = current Liability + non-current liabilities

= $195,000 + $300,000

= $495,000

Therefore, shareholder's equity is

$1,050,000 - $495,000

$555,000

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