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A corporation was formed on January 1, 20x8. It issued 500,000 common shares for total consideration of $1576098. During its first year of operations, the

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A corporation was formed on January 1, 20x8. It issued 500,000 common shares for total consideration of $1576098. During its first year of operations, the corporation reported net income of $616193 and declared $105981 of cash dividends. Which of the following is the total shareholders' equity of the corporation at December 31, 20x8? Select one: 510212 2298272 1576098 2086310

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