Roberto Corporation was organized on January 1, 2016. The firm was authorized to issue 87,000 shares of $5 par common stock. During 2016, Roberto had the following transactions relating to shareholders' equity:

Issued 10,200 shares of common stock at $5.20 per share.

Issued 20,300 shares of common stock at $9.00 per share.

Reported a net income of $108,000.

Paid dividends of $54,000.

Purchased 2,300 shares of treasury stock at $11.00 (part of the 20,300 shares issued at $9.00).

What is total shareholders' equity at the end of 2016?

$266,840.

$318,440.

$264,440.

$293,140.