Freeport Distributors Limited had ordinary share capital of $500 million as at January 1, 2020. Each share has a par value of $1. On December 1, 2020, the entity made a one for five issue at $10 per share. The opening retained earnings for the period was $250 million and the entity made net profits of $250 million for the period and dividends of $125 million was declared during 2020. The entity transferred $50 million from retained earnings to general reserves in 2020. The share premium as at January 1, 2020 was $100 million. At the commencement of 2020, the entity had land with cost amounting to $400 million and conducted a valuation of the land as at December 31, 2020. It was ascertained that land had a value of $650 million then. Determine the total shareholders' equity as at December 31, 2020 Select one: a. $2.225 billion b. $1.625 billion c. $1.5 billion d.$1.975 Saiom