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Question - Yellow Enterprises reported the following ($ in thousands) as of December 31, 2021. All accounts have normal balances.
Deficit (debit balance in retained earnings) $2,000 Common stock 2,100 Paid-in capital-share repurchase 1,000 Treasury stock (at cost) 210 Paid-in capital-excess of par 30,200
During 2022 ($ in thousands), net income was $9,200; 25% of the treasury stock was resold for $640; cash dividends declared were $670; cash dividends paid were $460.
What was shareholders' equity as of December 31, 2022?
Financial Statement Analysis and Preparation
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T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
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