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As of December 31, 2016, Warner Corporation reported the following: Dividends payable 20,000 Treasury stock 600,000 Paid-in capital - share repurchase 20,000 Other paid-in capital
As of December 31, 2016, Warner Corporation reported the following: Dividends payable 20,000 Treasury stock 600,000 Paid-in capital - share repurchase 20,000 Other paid-in capital accounts 4,000,000 Retained earnings 3,000,000
During 2017, half of the treasury stock was resold for $240,000; net income was $600,000; cash dividends declared were $1,500,000; and stock dividends declared were $500,000.
What would shareholders' equity be as of December 31, 2017?
Amount is not shown.
$5,760,000.
$5,820,000.
$6,760,000. 10 points
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