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Marigold Corp. has 100000 shares of $10 par common stock authorized. The following transactions took place during 2020, the first year of the corporation's existence:

Marigold Corp. has 100000 shares of $10 par common stock authorized. The following transactions took place during 2020, the first year of the corporation's existence: Sold 19200 shares of common stock for $13.50 per share. Issued 19500 shares of common stock in exchange for a patent valued at $292500. At the end of the Marigold's first year, total paid-in capital amounted to $551700. $292500. $259200. O $112500

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