Assume That a Firm Had Shareholders' Equity on the Balance

Assume that a firm had shareholders' equity on the balance sheet at a book value of $1,600 at the end of 2010.During 2011 the firm earns net income of $1,300,pays dividends to shareholders of $600,and uses $300 to repurchase common shares.The book value of shareholders' equity at the end of 2011 is:

A) $2,000
B) $400
C) $3,800
D) $2,600