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Corner Corporation began business by issuing 300,000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained

Corner Corporation began business by issuing 300,000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained a net loss of $50,000. The year-end balance sheet would show

A.

Common Stock of $1,500,000.

B.

total paid-in capital of $7,140,000.

C.

Common Stock of $7,200,000.

D.

total paid-in capital of $5,700,000.

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