Following is an incomplete statement of stockholders' equity for Stockton Corporation:

	Common stock		Additional paid in capital	Retained earnings
	# of shares	Amount
Balance, January 1	?	$500,000	$150,000	$250,000
Net income
Sales of common stock	10,000
Cash dividends declared
Balance, December 31

The following information is also available:

1. Stockton's stock has a $10 par value.

2. Net income for the year was $40,000.

3. The common stock issued during the year was sold on July 1 at $22 per share.

4. Two dividends were paid during the year: (a) $1.50 per share declared on March 1, paid on April 1 to stockholders of record on March 20 and (b) $1.50 per share declared on August 6, paid on September 1 to stockholders of record on August 21.

What is the balance in the stock account at the end of the year?

	a.	$500,000
	b.	$510,000
	c.	$600,000
	d.	$720,000
	e.	none of the above

Refer to the information above for Stockton Corporation.

What is the balance in Retained Earnings as of the end of the year?

	a.	$290,000
	b.	$390,000
	c.	$125,000
	d.	$215,000
	e.	none of the above

Refer to the information above for Stockton Corporation.

What is total contributed capital (or total paid in capital) as of the end of the year?

	a.	$600,000
	b.	$200,000
	c.	$270,000
	d.	$870,000
	e.	none of the above