OM, Inc. was organized on January 1, 20X6. The firm was authorized to issue 1,000,000 shares of $2 par value common stock. During 20X6, OM had the following transactions relating to stockholders' equity: Issued 50,000 shares of common stock at $7 per share. Issued 30,000 shares of common stock at $8 per share. Reported a net income of $100,000. Paid dividends of $50,000. What is the total amount recorded in the Common Stock account at the end of 20X6? Select one: a. $240,000 O b. $160,000 O c. $590,000 O d. $-0- e. $80,000