Ashland Company reported the following in its statement of stockholders' equity on January 1:

Common stock, $5 par value, authorized 200,000 shares, issued

100,000 shares $ 500,000

Additional paid-in capital 1,500,000

Retained earnings 516,000

$2,516,000

Treasury stock, at cost, 5,000 shares (40,000)

Total stockholders' equity $2,476,000

The following events occurred during the year:

May 1 1,000 shares of treasury stock were sold for $10,000

July 9 12,472 shares of previously issued common stock sold for $12 per share.

October 1 The board of directors distributed a 2-for-1 stock split.

Ashland accounts for treasury stock under the cost method.

In Ashland's December 31 statement of stockholders' equity, the balance in the Common Stock account is what?