Question: 1. Assume the actuary estimates the net cost of providing health care benefits to a particular employee during his retirement years to have a present value of $63,000. If the benefits relate to an estimated 25 years of service and five of those years have been completed:
2. Roberto Corporation was organized on January 1, 2016. The firm was authorized to issue 87,000 shares of $5 par common stock. During 2016, Roberto had the following transactions relating to shareholders' equity:
Issued 9,300 shares of common stock at $5.50 per share.
Issued 19,900 shares of common stock at $9.60 per share.
Reported a net income of $92,000.
Paid dividends of $54,000.
Purchased 3,700 shares of treasury stock at $11.60 (part of the 19,900 shares issued at $9.60).
What is total shareholders' equity at the end of 2016?