Captain Morgan Corporation was organized on January 1st. During

the year

, Captain had the

following transactions relating to shar

eholders' equity: (1) issued 10,000 shares of common

stock at $7 per share; (2) issued 20,000 shares of common stock at $8 per share; (3) reported

net income of $100,000 for

the year

; (4) paid dividends of $50,000; (5) purchased 3,000

shares of treasury stock at $10 per share. Total shareholders' equity at the end of

the year

is:

A)

$270,000.

B)

$300,000.

C)

$250,000.

D)

$200,000.