A company reported total shareholder's equity of $340,000 on its balance sheet dated December 31, 2019. During the year ended December 31, 2020, the company reported net income of $40,000, declared and paid a cash dividend of $8,000, declared and distributed a 10% stock dividend with a $10,000 total market value, and issued additional common shares for $72,000.

What is total shareholder's equity as of December 31, 2020?

Question 8 options:

a)

$410,000

b)

$420,000

c)

$432,000

d)

$444,000