On January 1, Puroland Corporation was incorporated, with 100,000 authorized ordinary shares of 100 par value. On the same date, 50,000 shares were sold and issued at 110 per share. On May 14, the corporation reacquired 800 ordinary shares at 120 per share. On September 16, 500 treasury shares were sold at 110. At the end of the year, the corporation realized a net income of 950,000. Out of unrestricted retained earnings, cash dividend of 300,000 was paid and 150,000 was appropriated for contingencies. How much is total shareholders equity as of December 31?