Hetfield Corporation began the year 2020 with retained earnings of $670,000 and $2,500,000 in common stock. During the year, the company sold 100,000 additional shares of stock for $1,000,000, recorded revenues of $600,000, expenses of $380,000, and paid dividends of $140,000. What was Hetfields retained earnings balance at the end of 2020?

Group of answer choices

$1,030,000

$750,000. (This is not the right answer for some reason)

$1,130,000

$600,000

Using the same information as above, what is the total equity of Hetfield Corporation at the end of 2020:

Group of answer choices

$750,000

$4,250,000. (This is not the right answer for some reason)

$3,250,000

$4,350,000