Klug Corporation reported the following information at December 31, 2013:

Preferred stock, $10 par, 10,000 shares authorized, issued, and outstanding; cumulative; nonparticipating; callable at par value	$100,000
Common stock, $1 par, 500,000 shares authorized	100,000
Additional paid-in capital - Common	25,000
Retained earnings	75,000
Total stockholders' equity	$300,000

The total paid in capital is:

Select one:

A. $250,000

B. $ 75,000

C. $225,000

D. $175,000

If a company issues 10,000 shares of $2 par value common stock at a market price of $30 per share, which of the following is the correct balance sheet entry?

Select one:

A. Increase cash by $300,000 and increase paid-in capital by $300,000

B. Increase common stock and cash by $20,000

C. Increase cash by $300,000 and increase retained earnings by $300,000

D. Increase revenues by $300,000