8. Arman Company was organized on January 1, 2018. On that date, it issued 200,000 shares with P10 par value at P15 per share. During the period January 1, 2018 through December 31, 2019, the entity reported net income of P2,000,000 and paid cash dividends of P500,000. On January 5, 2019, the entity purchased 10,000 shares at P20 per share to be held as treasury. On December 31, 2019, 5000 treasury shares were sold at P30 per share and the remaining treasury shares were retired. What is the total stockholders' equity on December 31, 2019? A.P4,450,000 B.P4,350,000 C.P4,400,000 D.P4.950.000