(Answered) Question - black enterprises reported the following in

Accounting

Question - Black Enterprises reported the following ($ in 000s) as of December 31, 2011. All accounts have normal balances.

During 2012 ($ in 000s), net income was $9,000; 25% of the treasury stock was resold for $450; cash dividends declared were $600; cash dividends paid were $500; and all of the stock options expired.

1. What ($ in 000s) was shareholders' equity as of December 31, 2011?

A. $29,600.

B. $35,600.

C. $30,400.

D. $28,600.

2. What ($ in 000s) was shareholders' equity as of December 31, 2012?

A. $38,100.

B. $37,450.

C. $38,450.

D. $38,350.

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