The Kenton Corp. began business this year. In addition to the $665,000 invested by its shareholders Kenton borrowed $235,000 from the bank. Kenton then purchased a new office building for $350,000. Of this purchase price $125,000 was paid using the cash received from the shareholders and the remaining amount was financed by a trust company. What is the amount of shareholders equity to be reported on the balance sheet? $540,000 $775,000 $315,000 $665,000