Bankruptcy and Reconstruction Chapter 15.

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Hopeful Companys balance sheet is as Inventories Property (net) TOG I Hopeful Company Balance Sheet, pre-quasi-reorganization Liabilities and Equity S 60,000 Loans payable 550,000 Common stocky SIO per 950,000 Additional paid-in capital Retained earnings Sl SOOOO Total 550,000 1610.0001 51.560.000 The company enters into a quasi-reorganization_ Pursuant to this plan, inventories are written dmvn by SSO,OOO and property is reduced by 5180,000_ The par value of the common stock is reduced to S2Jshare_ At the completion of the quasi-reorganization pruess, the balance in additional paid-in capital is: Select one: O A. $400,000 8. s sooo c $230,000 D. SO