Newton Corporation was organized on January 1, 2008, On that date, it issued 200,000 shares of its
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Newton Corporation was organized on January 1, 2008, On that date, it issued 200,000 shares of its \($10\) par-value common stock at \($15\) per share (400,000 shares were authorized). During the period from January 1, 2008 through December 31, 2010, Newton reported net income of \($750,000\) and paid cash dividends of \($380,000\). On January 5, 2010 Newton purchased 12,000 shares of its common stock at \($12\) per share. On December 31, 2010 the company sold 8,000 treasury shares at \($8\) per share.
Required:
What is the book value of total shareholders’ equity as of December 31, 20102
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