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As of December 31, 2024, Purdue Corporation reported the following: Cash dividends payable Treasury stock Paid-in capital-share repurchase Common stock and other paid-in capital accounts Retained earnings Multiple Choice $ 39,000 790,000 39,000 During 2025, half of the treasury stock was resold for $278,000; net income was $790,000, cash dividends declared were $690,000 and small stock dividends declared and distributed were $438,000. What would shareholders' equity be as of December 31, 2025? None of these amounts is correct 5,900,000 4,900,000

As of December 31, 2024, Purdue Corporation reported the following: Cash dividends payable Treasury stock Paid-in capital-share repurchase Common stock and other paid-in capital accounts Retained earnings Multiple Choice $ 39,000 790,000 39,000 During 2025, half of the treasury stock was resold for $278,000; net income was $790,000, cash dividends declared were $690,000 and small stock dividends declared and distributed were $438,000. What would shareholders' equity be as of December 31, 2025? None of these amounts is correct 5,900,000 4,900,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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As of December 31, 2024, Purdue Corporation reported the following: Cash dividends payable Treasury stock Paid-in capital-share repurchase Common stock and other paid-in capital accounts Retained earnings Multiple Choice $ 39,000 790,000 39,000 During 2025, half of the treasury stock was resold for $278,000; net income was $790,000, cash dividends declared were $690,000 and small stock dividends declared and distributed were $438,000. What would shareholders' equity be as of December 31, 2025? None of these amounts is correct 5,900,000 4,900,000
Transcribed Image Text:As of December 31, 2024, Purdue Corporation reported the following: Cash dividends payable Treasury stock Paid-in capital-share repurchase Common stock and other paid-in capital accounts Retained earnings Multiple Choice $ 39,000 790,000 39,000 During 2025, half of the treasury stock was resold for $278,000; net income was $790,000, cash dividends declared were $690,000 and small stock dividends declared and distributed were $438,000. What would shareholders' equity be as of December 31, 2025? None of these amounts is correct 5,900,000 4,900,000
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