Publishing was recently organized as a corporation. The company issued common stock to an attorney who provided legal services worth to help with the incorporation. also issued common stock to an inventor in exchange for her patent with a market value of . In addition, received cash both for the issuance of shares of its preferred stock at per share and for the issuance of of its common shares at per share. During the first year of operations, earned net income of and declared a cash dividend of .

Journey Publishing was recently organized as a corporation. The company issued common stock to an attorney who provided legal services worth $12,000 to help with the incorporation. Journey also issued common stock to an inventor in exchange for her patent with a market value of $78,000. In addition, Journey received cash both for the issuance of 8,000 shares of its preferred stock at $80 per share and for the issuance of 20,000 of its common shares at $3 per share. During the first year of operations, Journey earned net income of $80,000 and declared a cash dividend of $26,000. Read the requirement. Requirement 1. Without making journal entries, determine the total paid-in capital created by these transactions. Complete the table below by selecting the transactions that result in paid-in capital and then enter the amounts to calculate total paid-in capital for the period. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Transaction Paid-in capital Total paid-in capital Declared dividends Earned net income Issuance of common stock for a patent Issuance of common stock for cash Issuance of common stock for legal services Issuance of preferred stock for cash