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[The following information applies to the questions displayed below.] Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, 2018:
[The following information applies to the questions displayed below.] Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, 2018:
6% cumulative preferred stock, $100 par, 10,000 shares authorized, 6,000 shares issued | $ | 600,000 | |
Common stock, $3 par, 500,000 shares authorized, 300,000 shares issued and outstanding | $ | 900,000 | |
Additional paid-in capital: preferred stock | $ | 60,000 | |
Additional paid-in capital: common stock | $ | 1,900,000 | |
Retained earnings | $ | 1,090,000 | |
Dividends have been declared and paid for 2018. |
The total amount of Grant's paid-in capital at December 31, 2018, is:
Select one:
a. $1,960,000.
b. $3,460,000.
c. $1,090,000.
d. $3,050,000.
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