As of December 31, 2016, Warner Corporation reported the following: Dividends payable $36,000 Treasury stock...
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As of December 31, 2016, Warner Corporation reported the following: Dividends payable $36,000 Treasury stock 760,000 Paid-in capital - share repurchase 36,000 Other paid-in capital accounts 5,600,000 Retained earnings $4,600,000 During 2017, half of the treasury stock was resold for $272,000; net income was $760,000; cash dividends declared were $1,660,000; and stock dividends declared were $660,000. What would shareholders' equity be as of December 31, 2017? $9,848,000. $8,956,000. $8,848,000. $6,260,000.
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