Sosa Companys stockholders' equity at January 1, 2020 is as follows: Common stock, $10 par; issued and outstanding 225,000 shares: $2,250,000 Paid-in capital excess of par: $900,000 Retained earnings: $2,190,000 During 2020, Sosa had the following stock transactions: 1. Acquired 6,000 shares of its stock for $270,000. 2. Sold 3,600 treasury shares at $50 a share. 3. Sold the remaining treasury shares at $41 per share. No other stock transactions occurred during 2020. Sosa reported net income of $540,000 and declared dividends of $60,000 for 2020. What is the stockholders equity balance at December 31, 2020?

Multiple Choice

• $5,739,600

• $5,828,400

• $5,738,400

• $5,748,000