Kagan Corporation was organized on January 2, 2014. During 2014, Kagan issued 40,000 shares at $24 per share, purchased 6,000 shares of treasury stock at $26 per share, and had net income of $600,000. What is the total amount of stockholders equity at December 31, 2014? a $1,280,000 b $1,404,000 $1,416,000 $1,440,000