Martin Corporation was organized on January 3, 2018. Martin was authorized to issue 50,000 shares of common stock with a par value of 10 per share. On January 4, Martin issued 30,000 shares of common stock at 25 per share. On July 15, Martin issued an additional 10,000 shares at 20 per share. Martin reported income of 33,000 during 2018. In addition, Martin declared a dividend of 0.50 per share on December 31, 2018. The amount reported on Martin Corporation's December 31, 2018, balance sheet as additional paid-in capital was

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