The stockholders' equity section of the December 31, 20x7 balance sheet is provided below: Common Stock, $30 par. 20,000 shares issued and outstanding Paid-in Capital in Excess of Par--Common Stock 600,000 You Answered Retained Earnings 700,000 The common stock was issued at $42 per share. On March 1, 20x8, the company reacquired 4,000 shares of its common stock for $53 per share. Net income was $ 111.000 and dividends declared were $11.000. No other equity transactions occurred in 20x8. How much should be reported on the company's December 31, 20x8, balance sheet for total equity? 728,000 Correct Answer 1.428,000