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Captain Morgan Corporation was organized on January 1st. During the year, Captain had the following transactions relating to shareholders' equity: (1) issued 10,000 shares of

Captain Morgan Corporation was organized on January 1st. During the year, Captain had the following transactions relating to shareholders' 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.

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