Novak Corporation was organized on January 1, 2020. It is authorized to issue 13,000 shares of 8%, $100 par value preferred stock, and 526,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year.

Jan.	10		Issued 84,500 shares of common stock for cash at $6 per share.
Mar.	1		Issued 5,150 shares of preferred stock for cash at $105 per share.
Apr.	1		Issued 24,000 shares of common stock for land. The asking price of the land was $91,000. The fair value of the land was $80,500.
May	1		Issued 83,500 shares of common stock for cash at $4.75 per share.
Aug.	1		Issued 11,000 shares of common stock to attorneys in payment of their bill of $38,500 for services performed in helping the company organize.
Sept.	1		Issued 12,000 shares of common stock for cash at $7 per share.
Nov.	1		Issued 2,000 shares of preferred stock for cash at $109 per share.

Your answer is partially correct. Try again. Prepare the paid-in capital section of stockholders' equity at December 31, 2020. (Enter the account name only and do not provide the descriptive information provided in the question.) NOVAK CORPORATION Ralance Sheet (Partial) December 31, 2020 apital Stock dditional Paid-in Capital $715000 45000 1360000 Preferred Stock ommon Stoc otal Capital Stock dditional Paid-in Capital aid-in Capital in Excess of Par-Preferred Stock aid-in Capital in Excess of Stated Value 3750 61625 ommon Stock otal Additional Paid-in Capital otal Stockholders' Equit 505375 1865375