Reference no: EM132525098

Question - The following is the shareholders' equity information on the balance sheet of the Everslim Company at the beginning of the year of 2019. Common shares (100,000 shares authorized, 30,000 shares issued) are $550,000. Retained earnings are $267,000.

At the end of the year of 2019, the common shares are currently selling for $11.50 per share. On July 1, 2019, the company issued new common shares that were worth $50,550. The company declared the $50,000 cash dividend on December 30, 2019, with the scheduled payment on January 15, 2020. The company also declared the $20,000 stock dividend on December 31, 2019, with the scheduled issuance of the shares on January 31, 2020.

Required - What is the total amount of the shareholder's equity that must be reported on the balance sheet at the end of the year of 2019?