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As of December 31, 2018, Warner Corporation reported the following: Dividends payable $ 34,000 Treasury stock 740,000 Paid-in capitalshare repurchase 34,000 Other paid-in capital accounts
As of December 31, 2018, Warner Corporation reported the following:
Dividends payable | $ | 34,000 | |
Treasury stock | 740,000 | ||
Paid-in capitalshare repurchase | 34,000 | ||
Other paid-in capital accounts | 5,400,000 | ||
Retained earnings | 4,400,000 | ||
During 2019, half of the treasury stock was resold for $268,000; net income was $740,000; cash dividends declared were $1,640,000; and stock dividends declared were $640,000. What would shareholders' equity be as of December 31, 2019?
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