Roberto Corporation was organized on January 1, 2016. The firm was authorized to issue 84,000 shares of $5 par common stock. During 2016, Roberto had the following transactions relating to shareholders' equity:

Issued 9,100 shares of common stock at $5.30 per share.

Issued 20,700 shares of common stock at $9.50 per share.

Reported a net income of $101,000.

Paid dividends of $40,000.

Purchased 3,000 shares of treasury stock at $11.50 (part of the 20,700 shares issued at $9.50).

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

$276,880.

$271,380.

$273,180.

$311,380.