On December 31, Krug Company reported stockholders' equity of $280,000 prior to the following adjusting entries:Depreciation expense: $31,000. Accrued service revenues: $29,000. Accrued expenses: $12,000. Used insurance: $9,000; the insurance was initially recorded as prepaid. Rent revenue earned; $7,000; the rent was initially prepaid by the tenant and credited to unearned rent revenue. How much is Krug's stockholders' equity after adjusting entries? A. $280,000. B. $262,000. C. $295,000. D. $264,000.
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