ABC Corporation is authorized to issue 250,000 ordinary shares at 12.00 par value. During 2020, in its first year of operation, the following transactions occurred:

Issued 15,000 ordinary shares at 18.00 on may 1

Issued 25,000 ordinary shares at 25.00 on august 1

Issued 2,000 ordinary shares at 12.00 on october 1

Issued 1,000 ordinary shares at 20.00 on december 1

Determine the share premium ordinary shares balance as of december 31 2020

1. 891000

2. 423000

3. 480000

4. 415000