United, Inc.’s unadjusted current assets section and stockholders’ equity section of its December 31, 2011 balance sheet are as follows:

Current assets Cash $ 60,000 Investments in trading securities (including

$300,000 of United, Inc. common stock) 400,000 Trade accounts receivable 340,000 Inventories 148,000 Total $ 948,000 Stockholders’ equity Common stock $2,224,000 Retained earnings (deficit) (224,000)

Total $2,000,000 The investments and inventories are reported at their costs, which approximate market values. In its 2011 statement of stockholders’ equity, United’s total amount of equity at December 31, 2011, is

a. $2,224,000

b. $2,000,000

c. $1,924,000

d. $1,700,000