As of December 31, 2023, Ajax Corporation reported the following: Dividends payable $25,000; Treasury stock $900,000; Paid-in capital--share repurchase $22,000; Other paid-in capital accounts $4,600,000; Retained earnings $3,010,000.

During 2024, a third of the treasury stock was resold for $240,000; net income was $825,000; cash dividends declared were $1,000,000; and stock dividends of $550,000 were declared and distributed (no fractional shares).Hint: Use a T-account to help you organized these facts.

What would total shareholders' equity be as of December 31, 2024?

Question 8 options:

	$6,822,000
	$7,997,000
	$6,797,000
	$6,247,000