Black Enterprises reported the following $($ $ in $000$s$)$ as of December $31,2013.$ All accounts have

normal balances. $($Answer $9$ and $10)$

During $2014($ $ in $000$s$),$ net income was $$19,000$;$25\%$ of the treasury shares were resold for

$$450$; cash dividends declared were $$500$; cash dividends paid were $$400$; and all of the share

options expired.

$9-$ What $($ $ in $000$s$)$ was shareholders' equity as of December $31,2013?$

A$.$ $$29,600.$

B$.$ $$35,600.$

C$.$ $$30,400.$

D$.$ $$28,600.$

E$.$ None of these

$10)$ What $($ $ in $000$s$)$ was shareholders' equity as of December $31,2014?$

A$.$ $$39,100.$

B$.$ $$38,450.$

C$.$ $$54,550.$

D$.$ $$39,450.$

E$.$ None of these