Lakeland Inc. was organized on January 1, 2021. The firm was authorized to issue 94,000 shares of $5 par common stock. During 2021, Lakeland had the following transactions relating to shareholders' equity: Issued 9,500 shares of common stock at $6.80 per share. Issued 19,700 shares of common stock at $9.70 per share. Reported a net income of $107,000. Paid dividends of $58,000. Purchased 3,900 shares of treasury stock at $11.70 (part of the 19,700 shares issued at $9.70).

What is total shareholders' equity at the end of 2021?

Multiple Choice

A. $317,060.

B. $260,660.

C. $271,430.

D. $259,060.