Party Company reported total assets of P1,050,000 and total liabilities of P680,000 in its

December 31, 2020 balance sheet. The following transactions occurred during 2021:

• On August 1, Party Company issued an additional 5,000 ordinary shares at P25 per share.
• The company paid dividends totaling P80,000.
• Net income during the year was P110,000
• Reacquired treasury shares of P2,000 at P30; subsequently, reissued 1,000 for P39 per share.
• No other changes occurred in Shareholders' Equity during the year.

What is the balance of Party's Shareholders' Equity section in its December 31, 2021 balance

sheet?