II Assume the following information: XYZ Company has 10,000 shares of $10 par common stock outstanding XYZ Company has $15,000,000 in retained earnings at the beginning of the year XYZ Company has 1000 shares of 10% Preferred. $100 Par value authorized, none issued or outstanding XYZ is expected to earn $1,000,000 in the current year. XYZ has the following cash transactions: Buys $1,000,000 in equipment for its factory Issues $10,000,000 face amount in bonds Buys back 500 shares for $25 per share Customers purchase $500,000 of product Buys $300,000 of raw materials Sells a subsidiary for $500,000 Reduces inventory by $400,000 through the sale of its subsidiary 23) XYZ Company decides to pay a $1 per share dividend, what is the cides to pay a $1 per share dividend, what is the Shareholder Equity at the end of the year? (5 points)