On January 1, 20x1, the partners of ABC Partnership decided to admit other investors.

As a result, the partnership was converted to a corporation. Relevant information

follows:

Carrying amounts Fair values

Cash 20,000 20,000

Receivables 60,000 40,000

Inventory 80,000 70,000

Equipment 540,000 670,000

Payables 50,000 50,000

A, Capital (20%) 150,000 N/A

B, Capital (30%) 200,000 N/A

C, Capital (50%) 300,000 N/A

The corporation has an authorized capitalization of 2,000,000 divided into 200,000

ordinary shares with par value of 10 per share. Shares were issued to the former

partners based on their respective adjusted capital balances. How many shares did A

receive?