Current Attempt in Progress Waterway Industries has 100000 shares of $10 par common stock authorized. The following transactions took place during 2020, the first year of the corporation's existence: Sold 19000 shares of common stock for $14.50 per share. Issued 20100 shares of common stock in exchange for a patent valued at $301500. At the end of the Waterway's first year, total paid-in capital amounted to $275500. $121500. $577000. $301500.