Brandon Jones opened Jones Lawn Care on March 1 of the curre…
Brandon Jones opened Jones Lawn Care on March 1 of the current year. During March, the following transactions occurred and were recorded in the company’s books: Brandon, the sole stockholder, invested $25,000 cash in the business in exchange for common stock. Brandon contributed $100,000 of equipment to the business in exchange for common stock. The company paid $2,000 cash to rent office space for the month of March. The company received $16,000 cash for repair services provided during March. The company paid $6,200 for salaries for the month of March. The company provided $3,000 of services to customers on account. The company paid cash of $500 for utilities for the month of March. The company received $3,100 cash in advance from a customer for repair services to be provided in April. The company paid Brandon $5,000 cash as a dividend. Based on this information, total stockholder’s equity reported on the balance sheet at the end of March would be: