On December 31, year 1, Good Corp.'s board of directors canceled 50,000 shares of $2.25 par value common stock held in treasury at an average cost of $13 per share. Before recording the cancellation of the treasury stock, Good had the following balances in its stockholders' equity accounts: Common stock $540,000 Additional paid-in capital 750,000 Retained earnings 900,000 Treasury stock, at cost 650,000 In its balance sheet at December 31, year 1, Good should report a common stock balance of