Reference no: EM132859019
Problem - As of December 31, 2023, Ajax Corporation reported the following: Salaries payable $25,000; Treasury stock $400,000; Paid-in capital--share repurchase $27,000; Accounts Receivable $54,000; Other paid-in capital accounts $3,600,000; Retained earnings $3,010,000; and a debit balance in Accumulated other comprehensive income of $29,000.
During 2024, half of the treasury stock was resold for $240,000; net income was $714,000; cash dividends declared were $750,000; and stock dividends of $450,000 were declared and distributed (no fractional shares). Hint: Use a T-account to help you organized these facts.
What would total shareholders' equity be as of December 31, 2024?
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