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Alpha Corp., was organized on January 2, 2018. During the first year of operation, Alpha issued 100,000 shares of $1 par value common stock at
Alpha Corp., was organized on January 2, 2018. During the first year of operation, Alpha issued 100,000 shares of $1 par value common stock at a price of $50 cash per share.On December 31, 2018, Alpha reported Net Income of $250,000 and paid $50,000 cash dividends. Use this information to determine the dollar amounts that Alpha will report on its year end Balance Sheet:
- common stock
- paid in captial common stock in excess to par
- retained earning
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