On January 1, 20B, Milburn Corporation Had the Following Balances

Multiple Choice

On January 1, 20B, Milburn Corporation had the following balances in its shareholders' equity accounts: Common Shares - $100,000 (10,000 shares) and Retained Earnings - $30,000. During 20B, the company issued 1,000 additional shares of common shares for
$10 per share, reported profit of $40,000, and paid cash dividends of $20,000. What amount of total shareholders' equity would the company report in its December 31, 20B, statement of financial position?

A) $180,000.
B) $140,000.
C) $120,000.
D) $160,000.