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Dack Corporation was organized on January 3, 2021 with authorized share capital of 100,000, P10 par ordinary share capital. During 2021, Dack had the following

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Dack Corporation was organized on January 3, 2021 with authorized share capital of 100,000, P10 par ordinary share capital. During 2021, Dack had the following transactions affecting shareholders' equity: Jan. 7 Dec. 2 Issued 40,000 shares at P12 per share. Purchased 6,000 treasury shares at P13 per share. Profit for the year 2021 was P320,000. 18. What is the total shareholders' equity at December 31, 2021

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