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At January 1, AAA Corporation had the following shareholders' equity: Share capital $1 Preferred shares, noncumulative 25,000 shares authorized, 8,000 shares issued $160,000 Common Shares,
At January 1, AAA Corporation had the following shareholders' equity:
Share capital
$1 Preferred shares, noncumulative | |
25,000 shares authorized, 8,000 shares issued | $160,000 |
Common Shares, 1,000,000 shares authorized | |
50,000 shares issued | 750,000 |
910,000 | |
Retained Earnings | 425,000 |
Total Shareholders' Equity $1,335,000
On March 12, when the preferred shares have a market value of $19, the bond of directors declared and paid a 10% preferred stock dividend. On July 31, the board declared a 2-for-1 stock split on the common shares. During the year, the company paid cash dividends of $85,000 and reported profit of $465,000. At its December 31 year end, the balance in share capital is?
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