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On February 1 of the current year, Spartanburg Corporation invested $120,000 in a new delivery truck. The truck is being depreciated at a monthly rate

On February 1 of the current year, Spartanburg Corporation invested $120,000 in a new delivery truck. The truck is being depreciated at a monthly rate of $1,250. During the year, the company issued additional stock for $2,500,000 and declared dividends of $80,000. Its net income for the year was $400,000. Spartanburg's ending Retained Earnings balance reported in its December 31 balance sheet was $2,800,000. Its beginning Capital Stock balance on January 1 of the current year was $1,000,000. Given this information, determine the total stockholders' equity reported in the company's balance sheet dated December 31 of the current year

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