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Kingbird Corporation began business in 2020 by issuing 94000 shares of $5 par common stock for $9 per share and 23000 shares of 9%, $10

Kingbird Corporation began business in 2020 by issuing 94000 shares of $5 par common stock for $9 per share and 23000 shares of 9%, $10 par preferred stock for par. At year end, the common stock had a market value of $10. On its December 31, 2020 balance sheet, Kingbird would report

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