If During Year 2, Copernicus Corporation held a portfolio of available-for-sale securities having a cost of $190,600. There were no purchases or sales ofinvestmentsduring the year. The market values at the beginning and end of the year were $224,900 and $181,100, respectively. The net income for Year 2 was $175,400, and no dividends were paid during the year. The Stockholders' Equity section of the balance sheet was as follows on December 31, Year 1:

Copernicus Corporation

Stockholders' Equity

December 31, Year 1

Common stock$40,000

Paid-in capital in excess of par301,000

Retained earnings396,400

Unrealized gain on available-for-sale investments34,300

Total stockholders' equity$771,700