Lack Enterprises reported the following ($ in 000s) as of December 31, 2009. All accounts have normal balances.
During 2010 ($ in 000s), net income was $9,000; 25% of the treasury stock was resold for $450; cash dividends declared were $600; cash dividends paid were $500; and all of the stock options expired.
What ($ in 000s) was shareholders' equity as of December 31, 2009?
a. $29,600.
b. $35,600.
c. $30,400.
d. $28,600.