36 As of December 31, 2021, Purdue Corporation reported the following: Cash dividends payable $40,000 Treasury stock 1,200,000 Paid-in capital-share repurchase 40,000 Common stock and other paid-in capital accounts 8,000,000 Retained earnings 2.5 pts 6,000,000 During 2022, half of the treasury stock was resold for $480,000; net income was $1,200,000; cash dividends declared were $1,000,000; and small stock dividends declared and distributed were $800,000. What would shareholders' equity be as of December 31, 2022? $15,640,000. $13,640,000. $13,520,000. $15,520,000