Sunland Company has 100000 shares of $10 par common stock authorized. The following transactions took place during 2020 , the first year of the corporation's existence: Sold 20600 shares of common stock for $13.50 per share. Issued 20600 shares of common stock in exchange for a patent valued at $309000. At the end of the Sunland's first year, total paid-in capital amounted to $129000 $309000 $587100 $278100