Rueben inc. began operations on January 1, 2018. During 2018, Robertson had the following transactions:

Sold 10,000 shares of common stock for $7 per share

Reported net income of $100,000

Issued $200,000 of bond at face value

Declared $20,000 of cash dividends

Repurchased stock for $30,000 and held it as treasury stock

What is the total balance of Rueben shareholders equity at the end of 2018?

1. $ 100,000
2. $ 180,000
3. $ 160,000
4. $ 320,000
5. $ 120,000