Midtown, Inc. had the following transactions in 2018, its first year of operations: Issued 31,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $20.00 per share. Earned net income of $70,000. Paid no dividends. At the end of 2018, what is total stockholders' equity?

Select one:

A. $690,000

B. $70,000

C. $31,000

D. $620,000