On Jаnuаry 1, Purdue Cоrpоrаtiоn reported the following: Cash dividends payable $ 39,000 Treasury stock 790,000 Paid-in capital—share repurchase 39,000 Common stock and other paid-in capital accounts 5,900,000 Retained earnings 4,900,000 During the year, half of the treasury stock was resold for $278,000; net income was $790,000; cash dividends declared were $690,000; and small stock dividends declared and distributed were $438,000. What would shareholders' equity be as of December 31?
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