E10-38B. (Learning Objective 2: Measuring the paid-in capital of a corporation) Journey Publishing was recently organized. The company issued ordinary shares to a lawyer who provided legal services worth €25,000 to help organize the corporation. Journey also issued ordinary shares to an inventor in exchange for his patent with a market value of €87,000. In addition, Journey received cash both for the issuance of 4,000 shares of its preference shares at

€90 per share and for the issuance of 18,000 shares of its ordinary shares at €18 per share.

During the first year of operations, Journey earned a net income of €65,000 and declared a cash dividend of €23,000. Without making journal entries, determine the total paid-in capital created by these transactions.