Brief Exercise 5.2 (Static) Income Statement and Balance Sheet Relationships (LO5-1, LO5-2) On February 1 of the current year, Spartanburg Corporation invested $120,000 in a new delivery truck. The truck is being depreciated at a monthly rate of $1,250. During the year, the company issued additional stock for $2,500,000 and declared dividends of $80,000. Its net income for the year was $400,000. Spartanburg's ending Retained Earnings balance reported in its December 31 balance sheet was $2,800,000. Its beginning Capital Stock balance on January 1 of the current year was $1,000,000. Given this information, determine the total stockholders' equity reported in the company's balance sheet dated December 31 of the current year 
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