TB MC Qu. 18-79 (Algo) The corporate charter of Llama Co. authorized...

The corporate charter of Llama Co. authorized the issuance of 24 million, $1 par common shares. During 2021, its first year of operations, Llama had the following transactions:

January		1		sold 4 million shares at $29 per share
June		3		purchased 16 million shares of treasury stock at $32 per share
December		28		sold the 1 million shares of treasury stock at $34 per share

What amount should Llama report as additional paid-in capital in its December 31, 2021, balance sheet?

Multiple Choice

• $120 million

• $114 million

• $112 million

• $72 million