On January 1, 2020, Acme Company had the balances below in its stockholders' equity accounts. During 2020, Acme earned net income of $45,000, declared a cash dividend on Common Stock of $15,000, and issued 900 additional shares of common stock (par value $1 per share) for $10,000. Calculate Acme's total stockholders' equity on December 31, 2020. Account Title Balance at 1/1/2020 Credit or Debit Retained earnings credit $300,000 50,000 Common stock credit Additional paid in capital 300,000 credit $40,000 $705,000 $690,000 $650,000