GREO Corporation was organized on January 3, 2021, with authorized capital of 100,000 shares of P10 par ordinary shares. During 2021, GREO had the following transactions affecting shareholders' equity: (January 7--Issued 40,000 shares at P12 per share] [December 2--Purchased 6,000 shares of treasury shares at P13 per share]. The cost method was used to record the treasury share transaction. Harbottle's net income for 2021 is P300,000. What is the amount of shareholders' equity on December 31, 2021? * O P708,000 P720,000 P702,000 P640,000