On their December 31, 2020 Balance Sheet, Super Cola Company reported the following in their Shareholders' Equity Section:

lf, on January 1, 2021, Super Cola Company resold 50,000 treasury shares at a price of $ 80.00 per share (i.e $ 4,000,000 in total), at what amount would Total Shareholders' Equity be reported immediately afterrecording the transaction?

A.$ 28,000,000 B.$ 29,500,000 C.$ 32,000,000 D.None of the above

Shareholders' Equity Common Stock ($ 1 Par, 2,000,000 shares authorized, 800,000 shares issued) Additional Paid in Capital (Less: Treasury Stock: 100,000 shares Retained Earnings Total Shareholders' Equity Dec. 31, 2020 $ 800,000 23,200,000 ( 5,000,000) 9,000,000 $ 28,000,000