D Question 2 85 pts Presented below is the shareholders' equity section of the balance sheet of the Edwards Corporation as of 12-31-2017 IS Shareholders' Equity Common Stock (Par Value of $1/Share) $100,000 0 pa rir ir 00 24. Paid-in Capital in Excess of Par $1,900,000 Retained Earnings $500,000 Total Shareholders' Equity $2,500,000 000 tat For gnia As of 12-31-2017, the 100,000 shares of common stock were issued (sold) for $2,000,000, i.e., an issue price of $20 per share. The common stock has a par value of $1 per share On 10-1-2018 Edwards repurchased 10,000 shares of its common stock for $230,000, i.e., $23 per share. Edwards accounts for the transaction as a treasury stock transaction, i.e, Edwards did NOT retire the shares. On 12-4-2018 Edwards declared and paid $70,000 in cash dividends. Edwards had net income of $100,000 in 2018. What was total shareholders' equity reported on the 123-31-2018 balance sheet of Edwards? of o Fort tha 2gnize Incor