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What was shareholders equity as of december

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Reference no: EM133125002

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 declared were $1,500,000; and stock dividends declared were $500,000.

Required - What was shareholders' equity as of December 31, 2019?

Reference no: EM133125002

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