The Squash Company's Shareholders' Equity on January 1,2015 Was $3,125,500

The Squash Company's shareholders' equity on January 1,2015 was $3,125,500.During 2015,Squash Company reported the following:
• Net income of $575,325.
• Declared cash dividends totaling $125,000;the dividends had not been paid as of December 31,2015.
• Issued 10,000 shares of $5 par value common stock at $9 per share.
• Purchased 5,000 shares of its common stock for $9.75 per share;the shares are being held as treasury shares.
• Sold 1,500 shares of treasury stock for $9.25 per share.
• Issued 2,000 shares of $5 par value common stock resulting from the declaration of a stock dividend during 2015;the market value of the common stock on the date of declaration was $10.25 per share.
What was shareholders' equity as of December 31,2015?

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$3,630,950 = $3,125,...

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