$2$ pts

The corporate charter of Alpaca Co$.$ authorized the issuance of $24$ million, $$1$ par common shares. During $2021,$ its first year of operations, Alpaca had the following transactions:

January

$1$ sold $20$ million shares at $$7$ per share retired $14$ million shares at $$10$ per

June

$3$ share

December $28$ sold $2$ million shares at $$22$ per share

What amount should Alpaca report as additional paid$-$in capital$-$excess of par, in its December $31,2021,$ balance sheet?

$$78$ million

$$120$ million

$$170$ million

$$36$ million