As of December 31, 2018, Warner Corporation reported the following: Dividends payable Treasury stock Paid-in capital-share repurchase Other paid-in capital accounts Retained earnings $ 24,000 640,000 24,000 4,400,000 3,400,000 During 2019, half of the treasury stock was resold for $280,000; net income was $640,000; cash dividends declared were $1,460,000; and stock dividends declared were $540,000. What was shareholders' equity as of December 31, 2018