Based on the following information, what is the total equity at the end of 2013? The following is selected financial information for Osmond Dental Laboratories for 2012 and 2013:
- Retained earnings January 1 2012 = $53,000
- Net income 2012 = $37,000; 2013 = $42,000
- Dividends declared and paid 2012 = $15,000; 2013 = $18,000
- Capital stock issued 2012 = $70,000; 2013 = $20,000
- Total assets 2012 = $276,000; 2013 = $320,000