On January 1, 2017, Shellenburger Inc. had the following stockholders equity account balances.

Common Stock, no-par value (461,500 shares issued)		$2,307,500
Common Stock Dividends Distributable		197,500
Retained Earnings		593,500

During 2017, the following transactions and events occurred.

1.		Issued 69,225 shares of common stock as a result of a 15% stock dividend declared on December 15, 2016.
2.		Issued 26,050 shares of common stock for cash at $6 per share.
3.		Corrected an error that had understated the net income for 2015 by $68,850.
4.		Declared and paid a cash dividend of $78,500.
5.		Earned net income of $273,500.

Prepare the stockholders equity section of the balance sheet at December 31, 2017.