As of December 31, 2016, Warner Corporation reported the following: Dividends payable 20,000 Treasury stock 600,000 Paid-in capital - share repurchase 20,000 Other paid-in capital accounts 4,000,000 Retained earnings 3,000,000

During 2017, half of the treasury stock was resold for $240,000; net income was $600,000; cash dividends declared were $1,500,000; and stock dividends declared were $500,000.

What would shareholders' equity be as of December 31, 2017?

Amount is not shown.

$5,760,000.

$5,820,000.

$6,760,000. 10 points