14.5 Reporting Changes in Shareholders' Equity The shareholders' equity accounts for Erle Enterprises Inc. at the beginning of the year were as follows: During the year the following transactions/events took place: 1. A 2 -for-1 preferred stock split; market price was $30 2. Declared a 10% stock dividend to common shareholders; fair value was $1.20 3. Profit before tax was $200,000 4. Other comprehensive income net of taxwas $20,000 5. Inventory was debited $20,000 to correct a previous period error The tax rate for Erle Enterprises is 30%. What is the shareholders' equity balance at the end of the year? $1,815,000$1,875,000$1,917,000$1,809,000