Presented below is the stockholders' equity section of Sheffield Corp. at December 31, 2020:

Common stock, par value $20; authorized 75,000 shares;
	issued and outstanding 45200 shares	$ 904000
Paid-in capital in excess of par value		352000
Retained earnings		508000
		$1764000

During 2021, the following transactions occurred relating to stockholders' equity:

2700 shares were reacquired at $28 per share.
3400 shares were reacquired at $34 per share.
1800 shares of treasury stock were sold at $31 per share.

For the year ended December 31, 2021, Sheffield reported net income of $441000. Assuming Sheffield accounts for treasury stock under the cost method, what should it report as total stockholders' equity on its December 31, 2021, balance sheet?

    

Answer rating: 100% (QA)

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