Lakeland Inc. was organized on January 1, 2021. The firm was authorized to issue 94,000 shares of $5 par common stock. D

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Lakeland Inc. was organized on January 1, 2021. The firm was
authorized to issue 94,000 shares of $5 par common stock. During
2021, Lakeland had the following transactions relating to
shareholders' equity: Issued 9,500 shares of common stock at $6.80
per share. Issued 19,700 shares of common stock at $9.70 per share.
Reported a net income of $107,000. Paid dividends of $58,000.
Purchased 3,900 shares of treasury stock at $11.70 (part of the
19,700 shares issued at $9.70).
What is total shareholders' equity at the end of 2021?
Multiple Choice
A. $317,060.
B. $260,660.
C. $271,430.
D. $259,060.