Assume that a firm had shareholders' equity on the balance sheet at a book value of $1,600 at the beginning of the year. During the year the firm eams net income of $2,000, piys dividends to sharehoiders of 5200 , and issues new stock to raise 5500 of captal. The book value of shareholders' equity at the end of the year is: a51,450b.53,900c52,750d51,700