Thurman Corporation issued 560,000 shares of $0.50 par value capital stock at its date of incorporation for cash at a price of $4.0 per share. During the first year of operations, the company earned $180,000 and declared a dividend of $48,000. At the end of this first year of operations, the balance of the Common Stock account is:

$2,240,000.

$2,264,000.

$280,000.

$2,372,000.