Reference no: EM133063641
Question - On December 31, 2021, the statement of financial position of FRUITS Company showed the following shareholders' equity accounts:
-Ordinary shares, par P50, authorized 100,000 shares, issued 85,000 shares, in treasury 7,500 shares - P 4,250,000
-12% Preference shares, par P75, authorized 50,000 shares, issued 20,000 shares, in treasury 4,000 shares - P 1,500,000
-Share premium in excess of par - P 862,500
-Reserve for Treasury shares - 725,000
-Treasury ordinary shares - P 435,000; Treasury preference shares - P 290,000
-Retained earnings, unrestricted -P 2,168,000
-Net income for the year - 762,000
-Cash dividends declared - P 194,000; 2 years in arrears, current year is not yet included.
How much is the total shareholders' equity?
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