CONTRIBUTED CAPITAL Stahl Company was incorporated as a new business on January 1, 2007. The company is authorized to issue 20,000 shares of $5 par value common stock and 10,000 shares of 6 percent, $10 par value, cumulative, participating preferred stock. On January 1, 2007, the company issued 8,000 shares of common stock for $15 per share and 2,000 shares of preferred stock for $30 per share. Net income for the year ended December 31, 2007, was $375,000.

Required:
What is the amount of Stahl’s total contributed capital at December 31, 2007?
Cornerstone Exercise