What is the amount of shareholders equity at December

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Problem - Prime Corporation was organized on January 3, 2019, with authorized capital of 50,000 shares of P10 par value ordinary shares. During 2019 Prime had the following transaction affecting shareholders' equity: January 7 - Issued 20,000 shares @ P12 per share December 31 - Purchased 3,000 treasury shares @ P13 per share The cost method was used to record the treasury share transaction. Prime's net income for 2019 is P150,000. What is the amount of shareholders' equity at December 31, 2019?

Reference no: EM132977527

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