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Lerner, Inc. had the following stock transactions in 2020, its first year of operations: 1. Issued 10,000 shares of common stock. The stock has
Lerner, Inc. had the following stock transactions in 2020, its first year of operations: 1. Issued 10,000 shares of common stock. The stock has par value of $6.00 per share and was issued at $14.00 per share. 2. Issued 2,700 shares of $130 par value of preferred stock at par. 3. Earned net income of $96,000 4. Paid no dividends At the end of 2020, what is total paid-in capital? What is total stockholders' equity? (assume there is no other stock transaction)
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