The "shareholders' equity" account of Mania Corporation, after its initial year of operation in 2019 shows the following: Date Particulars Debit Credit Jan. 1 Issued 6,000 shares at par of P100 in exchange for real property with a market value of P800,000; authorized 20,000 share P600,000 Jan. 15 Sold 8,000 shares at P120 960,000 Mar. 10 Purchased 800 Mania shares at P150 P120,000 May 15 Loss on sale of machinery 40,000 June 10 Sold 400 treasury shares 68,000 Dec. 31 Cash dividends declared payable, Jan. 15, 2020 80,000 Dec. 31 Profit for the year 316,000 Questions: Based on the following presented above and the result of your audit, answer the following: The adjusted total equity on December 31, 2019 is P1,904,000 P1,704,000 P1,744,000 P1,944,000