As of December 31, 2016, Warner Corporation reported the following: Dividends payable $38,000 Treasury stock 510,000 Paid-in capital share repurchase 38,000 Other paid-in capital accounts 5,800,000 Retained earnings $4,800,000 During 2017, half of the treasury stock was resold for $180,000; net income was $510,000; cash dividends declared were $1,320,000; and stock dividends declared were $680,000. What was shareholders' equity as of December 31, 2016?