16) An analysis of stockholders' equity of Amsterdam Corporation as of January 1, 2020, is as follows: Common stock, par value $20; authorized 100,000 shares; issued and outstanding 85,000 shares $1,700,000 Paid-in capital in excess of par 860,000 Retained earnings 890,000 Total $3,450,000 Amsterdam uses the cost method of accounting for treasury stock and during 2020 entered into the following transactions: Acquired 3,000 shares of its stock for $60,000. Sold 2,000 treasury shares at $26 per share. Sold the remaining treasury shares at $16 per share. Assuming no other equity transactions occurred during 2020, what should Amsterdam report at December 31, 2020, as total additional paid-in capital?