SECTION A 1. The following information is from the balance sheet of Mega Corporation as of December 31, Preferred stock, S100 par paid-in pital in excess of par-preferred Common stock, $1 Paid-in capital in excess of par-common Retained earnin Total stockholders 255,000 2355,000 What was the total paid-in capital as of December 31, 20152 A) $750,000 B) $2,355,000 C) $1,350,000 D) $2,100,000 (2 Marks) 2. Dayton Company had the following transactions in 2015, it first year of operation. Issue 30,000 shares of common stock. Stock has par value of 35 per share and was issued at $15 per share. . The company charter authorizes 200,000 shares of common stock Which of the following is the correct value of the paid in capital in excess of par? A) $150,000 B) $300,000 C) S3,000,000 D) S1,000,000 (2 Marks) 3. Which of the following types of stock are considered to be LEAST risky for investors? A) Preferred stock B) Par value stock C) No-par stock D) Common stock (2 Marks) 4. The following information was extracted from the books of ASB Company Limited for the period ending December 31, 2015 Net Income Sales revenue Loss on sale of land Acquisition of land 500.000 120.000 1,050.000 215,000 455.000 316,000 Decrease in current liabilities Increase in current assets and other than cash Which of the following is the correct cash flow from operating activities using the indirect method based on the info presented? A) $1,000,000