Kingbird, Inc.s December 31, 2020 balance sheet showed the following:

6% preferred stock, $20 par value, cumulative,
35000 shares authorized; 22000 shares issued	$ 440000
Common stock, $10 par value, 4,000,000 shares authorized;
2,600,000 shares issued, 2,560,000 shares outstanding	19600000
Paid-in capital in excess of par value - preferred stock	61000
Paid-in capital in excess of par value - common stock	28900000
Retained earnings	9650000
Treasury stock (40,000 shares)	630000

Kingbird's total paid-in capital was

$48161000.

$49841000.

$21501000.

$49001000.