Black Enterprises reported the following ($ in 000s) as of December 31, 2009. All accounts have normal balances.

Deficit 3,000

Common Stock 2,000

Paid-in Capital-StopckOptions 1,000

Treasury Stock at Cost 400

Paid-In-Capital - ExcessfoPar 30,000

During2010($in000s),net income was$9,000;25%of the treasury stock was resold for$450;cash dividends declared were$600;cash dividends paid were$500;and all of the stock options expired.

What ($ in 000s) was shareholders' equity as of December 31, 2009?

A. $29,600.

B. $35,600.

C. $30,400.

D. $28,600.