Assume that a company had shareholders' equity on the balance sheet of $1,600 at the end of 2019. During 2020 the company had net income of $600, paid dividends to shareholders of $200, issued new common stock valued at $150, and had stock buy backs totalling $800.. The book value of shareholders' equity at the end of 2020 is:

A. $650

B. $1,350

C. $1,000

D. $1,550