What total shareholders equity should be reported

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Reference no: EM132835419

Question - Silver Company provided the following information at year-end:

Share premium 1,000,000

Accounts payable 1,100,000

Preference share capital, at par 2,000,000

Ordinary share capital, at par 3,000,000

Sales 10,000,000

Total expenses 7,800,000

Treasury shares at cost - ordinary 500,000

Dividends 700,000

Retained earnings - beginning 1,000,000

Required - What total shareholders' equity should be reported at year-end?

a. 8,000,000

b. 8,500,000

c. 5,800,000

d. 8,700,000

Reference no: EM132835419

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