At the end of 2019, Do You Like Brahms Company has 18,000 shares of P20 par ordinary shares that were all issued at an average price of P24 per share. The retained earnings balance on this date is P550,000. During 2020, the company entered into the following transactions:

January 16Issued 13,000 ordinary shares at P25 each.

March 21Exchanged 12,000 ordinary shares for an equipment. On this date, the ordinary share is selling at P27. There is no established fair market value for the equipment acquired.

May 7 Reacquired 5,000 of its own ordinary shares at P26.

July 1 Accepted subscriptions for 10,000 ordinary shares at P28. The contract called for 20% down payment.

August 20  Sold 4,000 treasury shares at P29 each.

December 1Collected the balance due on July 1 subscriptions and issued the corresponding certificates.

Profit for the year 2020 was P640,000. No dividends were declared during the year.   

What is Do You Like Brahms's total shareholders' equity at December 31, 2020?