Roberto Corporation was organized on January 1, 2018. The firm was authorized to issue 99,000 shares of $5 par common stock. During 2018, Roberto had the following transactions relating to shareholders' equity: Issued 9,800 shares of common stock at $5.30 per share. Issued 20,500 shares of common stock at $8.60 per share. Reported a net income of $109,000. Paid dividends of $42,000. Purchased 2,200 shares of treasury stock at $10.60 (part of the 20,500 shares issued at $8.60). What is total shareholders' equity at the end of 2018?

Multiple Choice

• $290,600.

• $271,920.

• $313,920.

• $273,720.