17.)

Zigma Corporation is authorized to issue 3,000,000 shares of $2 par value capital stock. The corporation issued half the stock for cash at $5 per share, earned $366,000 during the first three months of operation, and declared a cash dividend of $60,000. The total paid-in capital of Zigma Corporation after three months of operation is:

Multiple Choice

• $7,500,000.

• $7,866,000.

• $7,450,000.

• $7,816,000.

28.)

On January 1, 2018, Carleton Corporation had 64,000 shares of $7 par value common stock outstanding. On March 31, 2018, Carleton issued an additional 22,000 shares in exchange for a building. What number of shares will be used in the computation of earnings per share for the year 2018?

Multiple Choice

• 86,000.

• 172,000.

• 80,500.

• 64,000.