Reference no: EM133057055
Question - As of December 31, 2018, Smithinhymer Corporation reported the amounts shown.
Dividends payable 20,000
Treasury stock 600,000
Paid-in capital-share repurchase 20,000
Other paid-in capital accounts 4,000,000
Retained earnings 3,000,000
During 2019, half of the treasury stock was resold for $240,000; net income was $600,000; cash dividends were $1,500,000; and stock dividends declared were $500,000.
What was shareholders' equity as of December 31, 2019?
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