Reference no: EM132849122

Problem - The Shareholders' Equity of NCT Corporation as of December 31, 2019, was as follows:

Ordinary shares, $10 par, authorized 300,000 shares; 250,000 shares issued and outstanding $2,500,000

Share premium - issuance 3,500,000

Retained Earnings 1,740,000

On June 1, 2020, NCT reacquired 35,000 ordinary shares at $30. The following transactions occurred with regard to these shares.

July 1 Sold 15,000 shares at $48

August 1 Sold 19,000 shares at $27

September 1 Retired 1,000 shares

Required - How much is the Total Share Premium of NCT Corporation?

a. 3,693,000

b. 3,707,000

c. 3,713,000

d. 3,770,000

e. Some other amount