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Determining the shareholders equity of mellow enterprises

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Mellow Enterprises reported the following ($ in 000s) as of December 31, 2020. All accounts have normal balances. Deficit (debit balance in retained earnings) 3,000 Common stock 2,000 Paid-in capital-treasury stock 1,000 Treasury stock at cost 400 Paid-in capital-excess of par 30,000 During 2021 ($ 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, 2020?
  • What ($ in 000s) was shareholders' equity as of December 31, 2021?

Reference no: EM132421309

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