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As of December 31, 2018, Warner Corporation reported the following: Dividends payable $ 24,000 Treasury stock 640,000 Paid-in capitalshare repurchase 24,000 Other paid-in capital accounts
As of December 31, 2018, Warner Corporation reported the following:
Dividends payable $ 24,000
Treasury stock 640,000
Paid-in capitalshare repurchase 24,000
Other paid-in capital accounts 4,400,000
Retained earnings 3,400,000
During 2019, half of the treasury stock was resold for $248,000; net income was $640,000; cash dividends declared were $1,540,000; and stock dividends declared were $540,000. What would shareholders' equity be as of December 31, 2019?
A $6,604,000.
B $6,532,000.
C $7,532,000.
D $4,940,000
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