Roberto Corporation was organized on January 1, 2016. The firm was authorized to issue 89,000 shares of $5 par common stock. During 2016, Roberto had the following transactions relating to shareholders' equity:

Issued 9,900 shares of common stock at $5.40 per share. Issued 19,400 shares of common stock at $8.60 per share. Reported a net income of $97,000. Paid dividends of $50,000. Purchased 3,100 shares of treasury stock at $10.60 (part of the 19,400 shares issued at $8.60). What is total shareholders' equity at the end of 2016?