4. When it purchased Sutton, Inc. on January 1, 20X1, Pavin Corporation issued 500,000 shares of its $5 par voting common stock. On that date the fair value of those shares totaled $4,200,000. Related to the acquisition, Pavin had payments to the attorneys and accountants of $300,000. Immediately prior to the purchase, the equity sections of the two firms appeared as follows:

	Pavin	Sutton
Common stock	$ 4,000,000	$ 700,000
Paid-in capital in excess of par	7,500,000	900,000
Retained earnings	5,500,000	500,000
Total	$17,000,000	$2,100,000

Immediately after the purchase, the consolidated balance sheet should report paid-in capital in excess of par of (Points : 3)

$8,900,000 $9,200,000 $9,100,000 $9,300,000