As of December 31, 2014, Thames Company reported assets of ₤6,480,000, liabilities of ₤1,920,000 and retained earnings of ₤3,315,000. Share capital reported on the December 31, 2014 statement of financial position is

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The accounting equation is Assets = Liabilities + Shareholders' Equity. Shareholders' Equity is the sum of Share Capital and Retained Earnings. Given Assets (₤6,480,000) and Liabilities (₤1,920,000), Shareholders' Equity is ₤4,560,000 (₤6,480,000 - ₤1,920,000). With Retained Earnings of ₤3,315,000, Share Capital is ₤1,245,000 (₤4,560,000 - ₤3,315,000).

As of December 31, 2014, Thames Company Reported Assets of ₤6,480,000