Question
As of December 31, 2021, XYZ Corporation reported the following: Cash dividends payable $ 21,000 Treasury stock 610,000 Paid-in capitalshare repurchase 21,000 Common stock and
As of December 31, 2021, XYZ Corporation reported the following: Cash dividends payable $ 21,000 Treasury stock 610,000 Paid-in capitalshare repurchase 21,000 Common stock and other paid-in capital accounts 4,100,000 Retained earnings 3,100,000 During 2022, half of the treasury stock was resold for $242,000; net income was $610,000; cash dividends declared were $510,000; and small stock dividends declared and distributed were $402,000. What would shareholders' equity be as of December 31, 2022?
$7,016,000.
None of these amounts is correct..
$7,953,000.
$6,953,000.
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