As of December 31,2021 , Purdue Corporation reported the following: During 2022, half of the treasury stock was resold for $250,000; net income was $650,000; cash dividends declared were $550,000; and small stock dividends declared and distributed were $410,000. What would shareholders' equity be as of December 31,2022 ? Multiple Choice $8,725,000 None of these amounts is correct. $7,725,000 $7,800,000