Shown below is information relating to the stockholders' equity of Reeve Corporation as of December 31, 2015:

4.5% cumulative preferred stock, $100 par	$ 1,100,000
Common stock, $10 par, 380,000 shares authorized, 144,000 shares issued and outstanding	1,440,000
Additional paid-in capital: common stock	288,000
Retained earnings (Deficit)	(72,000)
Dividends in arrears	49,500

Total stockholders' equity is:

a $2,828,000.

b $2,756,000.

c $2,706,500.

d $2,900,000.