Zinc Co.'s adjusted trial balance at December 31, 20x1, includes the following account balances:

Ordinary shares, 3 par - 600,000

Share premium - 800,000

Treasury stock, at cost - 50,000

Accumulated other comprehensive income (debit) - 20,000

Retained earnings appropriated for uninsured earthquake losses - 150,000

Retained earnings unappropriated - 200,000

What amount should Zinc report as total shareholders' equity in its December 31, 20x1, balance sheet? show the solution and explain.