What in 000s was shareholders equity as of december 31, Ask an Expert

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Lack Enterprises reported the following ($ in 000s) as of December 31, 2009. All accounts have normal balances.

During 2010 ($ 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.

What ($ in 000s) was shareholders' equity as of December 31, 2009?

a. $29,600.

b. $35,600.

c. $30,400.

d. $28,600.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M979337

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