Lerner Company Had the Following Transactions in 2016,its First Year

Multiple Choice

Lerner Company had the following transactions in 2016,its first year of operations.
? Issued 25,000 ordinary shares.The issue price of the shares was $18.00 per share.
? Issued 1200 preference shares for $200 per share.
? Earned net profit of $36,000.
? Paid no dividends.
At the end of 2016,what is the total amount of shareholders' equity?

A) $290,000
B) $690,000
C) $400,000
D) $726,000