Please show detailed calculations. Yellow Enterprlses reported the following In

Question

Please show detailed calculations.

Yellow Enterprlses reported the following In O00s) as of December 31, 2016. All accounts have normal balances Deficit (debit balance in retalned earnings) 1,900 Common Stock 3.600 1.300 Pald-In capital-treasury stock Treasury stock at cost 220 Pald-in capital excess of par 31700 During 2017 In 000s), net Income was $10,700; 25% of the treasury stock was resold for $640; cash dividends declared were $610, cash dividends pald were $460. What In 000s) was shareholders' equity as of December 31, 2017?

Explanation / Answer

Solution Sharehoders' euity=share capital+Reatined Earnings-Treasury stock (1900)+3600-(1300-325)-220+31700+640= 32845

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