1. The following selected list of accounts with their normal balances was taken from the general ledger of Wallace Company as of December 31, 2016:

   Common stock, $1 par Wallace	$ 380,000
   Retained earnings	262,000
   Paid-in capital in excess of par - preferred	70,000
   Treasury Stock	330,000
   Preferred stock, $100 par	600,000
   Paid-in capital in excess of par -common	760,000

   Given above information, at the end of 2016:

   	A.	Total Paid in Capital is $2,140,000, and Total Stockholders' equity is $2,402,000
   	B.	Total Paid in Capital is $1,480,000, and Total Stockholders' equity is $1,218,000
   	C.	Total Paid in Capital is $1,480,000, and Total Stockholders' equity is $1,742,000
   	D.	Total Paid in Capital is $1,810,000, and Total Stockholders' equity is $1,742,000