20. Before the journal entry to record income tax and before the closing entries were recorded at the end of the accounting period (December 31, 2024), the following data were taken from the accounts of Buynow Corporation: Capital shares (20,000 shares issued) $215,000 Retained earnings, balance December 31, 2023 80,000 Revenues earned during 2024 400,000 Expenses (excluding income tax) incurred during 2024 320,000 Cash dividends declared and paid (during 2024) 30,000 Treasury shares (1,000 shares at cost) 17,000 Average Income tax rate, 30% What is the total amount of shareholders' equity that should be reported on the statement of financial position dated December 31, 2024? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer $96,000 b $128,000 $300,000 20. Before the journal entry to record income tax and before the closing entries were recorded at the end of the accounting period (December 31, 2024), the following data were taken from the accounts of Buynow Corporation: Capital shares (20,000 shares issued) $215,000 Retained earnings, balance December 31, 2023 80,000 Revenues earned during 2024 400,000 Expenses (excluding income tax) incurred during 2024 320,000 Cash dividends declared and paid during 2024) 30,000 Treasury shares (1,000 shares at cost) 17,000 Average income tax rate, 30% What is the total amount of shareholders' equity that should be reported on the statement of financial position dated December 31, 20242 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer a $96,000 b $120,000 c $300,000 d $304,000