Midtown, Inc. had the following transactions in 2018, its first year of operations:

	Issued 35,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $23.00 per share.
	Earned net income of $70,000.
	Paid no dividends.

At the end of 2018, what is total stockholders' equity?

A.

$70,000

B.

$875,000

C.

$805,000

D.

$35,000