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A corporation was formed on January 1, 20x8. It issued 500,000 common shares for total consideration of $1597746. 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 $1597746. During its first year of operations, the corporation reported net income of $749211 and declared $175039 of cash dividends. Which of the following is the total shareholders' equity of the corporation at December 31, 20x8? Select one: a. $2521996 b. $574172 c. $1597746 d. $2171918

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