Shown below is information relating to the stockholders' equity of Reeve Corporation as of December 31, Year 1:

19 Shown below is information relating to the stockholders' equity of Reeve Corporation as of December 31, Year 1: 8. 08 cumulative preferred stock, $100 par value; authorized, ?? shares; issued and outstanding, ?? shares $ 600, 000 Common stock, $10 par value; authorized, 500,000 shares; issued and outstanding, 120,000 shares 1, 200, 000 Additional paid-in capital: Common stock 600, 000 eBook Retained earnings (Deficit) (60, 000) Dividends in arrears 48, 000 Total stockholders' equity is: Multiple Choice O $2,292,000. O $2,460,000. O $2,400,000. O $2,340,000