Sheffield Inc. was authorized to issue 100000 10 par value ordinary shares. As of December 31, 2020, the company had issued 54000 shares at an average price of 22 per share. During 2020, the company felt that the shares were undervalued so it purchased 9800 treasury shares at 16 per share. When the share price rebounded later in the year, the company sold 4200 of the treasury shares for 24 per share. Retained earnings was 1666000 at December 31, 2020. Total equity at December 31, 2020 is

2697200.

2994000.

2764400.

2798000.