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What is the balance of Party Shareholders Equity section

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Question - Party Company reported total assets of P1,050,000 and total liabilities of P680,000 in its December 31, 2020 balance sheet. The following transactions occurred during 2021:

On August 1, Party Company issued an additional 5,000 ordinary shares at P25 per share.

The company paid dividends totaling P80,000.

Net income during the year was P110,000.

Reacquired treasury shares of P2,000 at P30; subsequently, reissued 1,000 for P39 per share.

No other changes occurred in Shareholders' Equity during the year.

Required - What is the balance of Party's Shareholders' Equity section in its December 31, 2021 balance sheet?

Reference no: EM132682477

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