Paula Corporation was organized on January 1, 2019, with an authorization of 1,200,000 shares of common stock with a par value of $12 per share. During 2019, the corporation had the following capital transactions:

January 5 issued 600,000 shares @ $20 per share January 5 incurred $30,000 of direct costs associated with issuing stock July 28 purchased 80,000 shares @ $22 per share October 10 sold 40,000 shares held in treasury @ $26 per share

Paula used the cost method to record the purchase and reissuance of the treasury shares. During 2019, Paulas net income was $1,080,000 and it did not declare any dividends. Compute the total amount of stockholders equity as of December 31, 2019.