Yellow Enterprises Reported the Following ($ in 000s) as of December

question 84

Multiple Choice

Yellow Enterprises reported the following ($ in 000s) as of December 31, 2018. All accounts have normal balances. During 2019 ($ 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 $500.
- What ($ in 000s) was shareholders' equity as of December 31, 2019?

• A) $38,100.
• B) $37,450.
• C) $38,450.
• D) $38,350.

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Definitions:

Nonresident Alien

An individual who is not a citizen or a permanent resident of a country but lives in the country for a limited time, often for work or study.

Domestic Corporations

Corporations that are incorporated and operate in the state in which they were formed.

Nonprofit Corporation

A corporation that operates for educational, charitable, social, religious, civic, or humanitarian purposes, rather than to earn a profit.

Shareholders

Individuals or entities that own one or more shares of stock in a corporation, granting them rights to dividends and a say in corporate governance.